Political stability, strong ties bolster our energy security, says PM

SIPITANG: Malaysia’s strong international relations and political stability have enabled it to secure continued access to oil and gas supplies despite growing uncertainty arising from the global energy crisis, Prime Minister Anwar Ibrahim said.

He said the government’s prudent diplomatic approach had made countries such as Russia and Turkmenistan regard Malaysia as a close and trusted partner.

Recalling his recent official visit to Turkmenistan, Anwar said the country’s leadership had expressed its willingness to collaborate with Malaysia through Petronas in operating one of the world’s largest gas fields.

“Our country maintains friendly relations with all nations, including the US and China. At the same time, our domestic political situation remains stable, without upheaval or racial discord,” he said when officiating the groundbreaking ceremony of the Sabah Southern Madani Link (SSML) project here today.

Present were chief minister Hajiji Noor, domestic trade and cost of living minister Armizan Mohd Ali, and Sabah and Sarawak affairs minister Mustapha Sakmud.

Anwar said political stability is key to enabling the government to focus on its development agenda while continuing to attract foreign investment.

“That is why I have continued to support Hajiji. We have had enough disputes over many issues, but the country’s politics must remain stable because without stability, investors will not come,” he said.

He said the world is facing growing uncertainty due to energy supply disruptions arising from conflicts in the Middle East, which had also affected shipping through the Strait of Hormuz and driven up global oil prices.

The situation has forced several countries, including some Asean members, to take drastic measures, including closing about 400 petrol stations because of supply shortages.

“We are grateful that despite these circumstances, fuel prices remain low. In Malaysia, RON95 petrol remains at RM1.99 per litre.

“We adjusted diesel prices slightly, but not for sectors such as agriculture, buses and public transportation because we must ensure that, whatever the challenge, the burden does not fall on the people,” said Anwar, who is also the finance minister.