Gas Malaysia fixes 2Q21 natural gas selling price at RM26.85/MMBtu

Gas Malaysia fixes 2Q21 natural gas selling price at RM26.85/MMBtu
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KUALA LUMPUR (April 9): Gas Malaysia Bhd has set the average natural gas selling price for the distribution segment of its unit Gas Malaysia Energy and Services Sdn Bhd at RM26.85 per million British thermal unit (MMBtu) for the second quarter of 2021 (2Q21).

"The above average natural gas selling price includes the transportation tariff of RM1.19 per MMBtu, the legacy gas cost pass through of RM0.62 per MMBtu and distribution tariff of RM2.05 per MMBtu as previously approved by Suruhanjaya Tenaga," the group said in a filing with Bursa Malaysia today.

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

"The selling price revision will continue to contribute positively towards the financial position of the company for the financial year ending Dec 31, 2021," it said.

At noon break today, Gas Malaysia's share price was up by one sen at RM2.71, valuing the group at RM3.48 billion.

Surin Murugiah