Indonesia, Malaysia showing interest in buying Russian LNG - deputy energy minister

TEHRAN. Feb 18 (Interfax) - Russia is discussing liquefied natural gas supplies with Indonesia and Malaysia, Deputy Energy Minister Roman Marshavin told Interfax.

"There is interest, they are developing oil and gas hubs, they are interested in supplies," Marshavin said, noting that he plans to visit the countries next week and discuss relevant issues with the energy ministers. "We will talk, inquire what volumes are needed, and then companies could join in," he said.

Indonesia and Malaysia have Asia's largest liquefied natural gas capacity, with the latter ranking fifth worldwide in exporting LNG in 2023. However, their capacity is underutilized, and both countries are experiencing depletion of the resource bases.

The International Gas Union's report indicates that Malaysia exported 26.8 million tonnes of LNG in 2023, while its LNG capacity is 32 million tonnes, and LNG imports totaled 2.6 million tonnes. Malaysia's regasification capacity allows importing 7.3 million tonnes of LNG per year.

Indonesia had liquefaction capacity of 30.3 million tonnes in 2023 and used only 50% of it, exporting 15.6 million tonnes of LNG and importing 4.2 million tonnes. Indonesia's regasification capacity is 11.4 million tonnes per year.