KUALA LUMPUR (Jan 12): 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 RM22.14 per million British thermal units (MMBtu) for the first quarter 2021 (1Q21), which is RM11.51/mmBtu or 34.21% lower than the 2020 average natural gas selling price.

“The [new] 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 RM1.88 per MMBtu as previously approved by Suruhanjaya Tenaga,” the group said in a filing to Bursa today.

Gas Malaysia clarified that this selling price revision is not applicable to the sales of natural gas for natural gas vehicles and liquefied petroleum gas supplied in gas cylinders 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 unchanged at RM2.65, valuing the group at RM3.40 billion.