Petronas calls for greater collaboration towards a sustainable LNG market
Throwing more cash at the LNG world is like giving a heroin addict crystal meth hoping it would cure him. LNG does not have a problem of low prices, it has a problem of high costs much of which is self-induced.
Petronas has urged producers and consumers of LNG to collaborate towards encouraging the growth and sustainability of the industry. Its President and Group CEO Wan Zulkiflee bin Wan Ariffin warned that while demand for LNG has grown, there is a possibility of industry stagnation if LNG prices do not encourage necessary investments to sustain the business.