Malaysia's gas production has shown a mixed trend over the last decade, fluctuating between growth and decline. The gas production stood at 8.11 Billion Cubic Feet Per Day in 2023. Year-on-year variation reveals significant changes such as a 6.47% increase in 2015 and a -7.07% decline in 2020. In recent years, the production showed a positive trend with a 5.67% increase in 2022 and a modest 1.64% growth in 2023. Analyzing over the past five years, the CAGR stands at 1.94%, indicating a steady but slow growth.
Forecast data from 2024 onward suggest a continuous upward trend in gas production, with annual rises expected to reach 8.76 Billion Cubic Feet Per Day by 2028. The forecasted 5-year CAGR is 1.22%, pointing towards a moderate yet consistent increase in production rates. With a projected 6.26% growth over five years, Malaysia's gas industry exhibits promising potential.
Future trends to watch for include:
- Technological advancements in gas extraction and processing.
- Policy changes impacting the energy sector and sustainability measures.
- Global demand shifts which may drive export volumes.
- Developments in regional energy markets influencing gas production strategies.
- Investment in infrastructure to support higher production capacities.
