KUALA LUMPUR (Jan 15): Petronas Gas Bhd (PetGas) said the third party access (TPA) system, which allows third parties to access gas facilities they do not own or operate, will come into force tomorrow.

"The company is in full compliance with the technical and operational provisions of the Gas Supply (Amendment) Act 2016," it said in a filing with Bursa Malaysia.

"The Energy Commission (EC) has confirmed that the current tariff for the utilisation of the peninsula gas utilisation system, regasification terminal Sungai Udang and regasification terminal Pengerang will be maintained until the end of 2018. The company is in continuous discussion with the EC on the framework and quantum of the tariff beyond 2018," PetGas said.

The company will announce further material developments on the TPA, as and when necessary, PetGas added.

According to the EC website, the objective of the TPA is to create a situation whereby the gas price to end-consumers will be based on a willing-buyer-willing-seller basis, taking into account healthy competition amongst rival suppliers. 

However, the government may regulate the gas price for retail consumers if necessary, to safeguard consumers’ interest, as retail consumers do not have the choice to buy the gas from other gas suppliers, except from retail licensees, the filing added.

PetGas shares settled 0.5% or 10 sen lower at RM18.90 today, valuing it at RM37.56 billion.