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Malaysia energy report

Malaysia energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
36 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Malaysia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • The country targets a 31% share of renewables in the power mix in 2025 and a 45% reduction in the GHG intensity in 2030.
  • A domestic Emissions Trading System is planned to be launched.
  • Two public companies dominate the energy sector: TNB for electricity and Petronas for oil and gas.
  • The share of renewables has increased by 12.5 points from 2010 to 19% in 2024.
  • Thermal generation is shared almost equally between gas and coal.
  • One CCGT of 2.2 GW was commissioned in 2022.
  • Since 2020, fuel prices are fixed according to a "managed floating" system.
  • Gasoline and diesel are much cheaper than in the most developed Asian countries.
  • Oil and gas represent around 70% of total consumption.
  • Electricity consumption growth has slowed down considerably since 2019 (2%/year compared to 4%/year before).
  • The National Energy Plan 2022-2040 aims to reduce the share of coal in the power capacity mix from 31% in 2018 to 18.6% in 2040.
  • Petronas is partnering with various companies to explore the potential and viability of CCS technology, making Malaysia a key CCS hub in the ASEAN region.
-45%
reduction in GHG intensity by 2030
-2.4%
annual decrease in GHG intensity of GDP over 2005-2030
40%
share of renewables in the power capacity mix in 2035

  • Institutions & Energy Policy

    The Economic Planning Unit (EPU), a powerful planning body under the supervision of the Prime Minister, drafts the country's energy policy through its energy division (Energy Section). Decisions are taken by a restricted council of ministers, the "Cabinet Committee on Energy".

  • Energy Companies

    Electricity:

    Three electricity companies dominate the country's 3 geographical areas: TNB (Tenaga Nasional Bhd) for the Peninsula; Sarawak Energy Bhd for Sarawak and SESB (Sabah Electricity Sdn. Bhd) for Sabah.

  • Energy Supply

    Gas:

    Natural gas production increased by 5%/year between 2020 and 2022, reaching 79 bcm in 2022 and finally dropping by 0.5%. Previously, natural gas production had been increasing by around 4%/year over 2010-2019 and then decreased by 10% in 2020 due to the contraction of gas demand induced by the COVID-19 pandemic.

  • Energy Prices

    Oil:

    In an attempt to reduce its fiscal deficit, Malaysia cut fuel subsidies in 2013, which saved US$1bn in 2014 and resulted in prices increasing by US$0.06/l. Low-income families benefited from higher cash pay-outs to soften the impact of the price hike. Between 2014 and 2020, the Government removed subsidies on gasoline (RON95) and diesel to reduce its fiscal deficit.

  • Energy Consumption

    In 2023, consumption per capita was 2.8 toe. This is higher than neighbouring countries. Electricity consumption per capita reached almost 5 000 kWh in 2023.

    Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

    Graph: TOTAL CONSUMPTION MARKET SHARE BY ENERGY (2023, %)

  • Issues & Prospects

    Oil:

    Petronas intends to increase its CAPEX to MYR 60bn (US$13.1Bn) for 2022 and MYR 45-50bn (US$9.8-10.9bn) for 2023.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2023, %)
  • GRAPH 9: Final consumption market share by sector (2023, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Malaysia energy market data since 1990 and up to is included in the Excel file accompanying the Malaysia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Malaysia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Malaysia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Malaysia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.