KUALA LUMPUR (Dec 18): Gas Malaysia Bhd has received the government’s directive on the average natural gas selling price for the distribution segment by its wholly-owned subsidiary Gas Malaysia Energy and Services Sdn Bhd. 

The directive, issued via a letter from the Energy Commission, is for a period of one year beginning Jan 1 to Dec 31, 2021, with the average natural gas selling price to be decided every quarter, said Gas Malaysia. 

The group said the applicable average natural gas selling price and the natural gas selling price by tariff category for the one-year period will only be announced at the beginning of each quarter.

“The natural gas selling price shall include the transportation tariff of RM1.19 per million British Thermal Units (MMBtu), the legacy Gas Cost Pass Through of 62 sen per MMBtu and Distribution Tariff of RM1.88 per MMBtu as previously approved by the Energy Commission,” it said in a filing with Bursa Malaysia.

Gas Malaysia clarified that this selling price determination is not applicable to sales of natural gas for natural gas vehicle and liquefied petroleum gas supplied in gas cylinder or in bulk.

The group said the selling price determination will continue to contribute positively towards its financial position for the financial year ending Dec 31, 2021.

Gas Malaysia’s share price closed unchanged at RM2.60, valuing the group at RM3.34 billion. A total of 511,800 shares were traded.