Petroliam Nasional Bhd (Petronas) will consider importing liquefied natural gas (LNG), including from the United States, only when necessary and if it makes commercial sense, said Malaysian Prime Minister Anwar Ibrahim.

Speaking at the prime minister’s question time in Parliament on Thursday, Anwar said that importing additional products, including from the U.S., is reasonable if prices are competitive and the project proves commercially viable. He noted that Malaysia’s products remain in strong demand in countries like Japan, South Korea, and especially China, where demand is particularly high.

Anwar was addressing concerns about a U.S. condition requiring Malaysia to import LNG valued at $3.4 billion annually, equivalent to 4 million metric tons per year, and how the state-owned oil firm could protect its profitability if it proceeded with such purchases in addition to existing imports.

“I don’t believe this poses a problem, as we only import what is necessary and strictly on commercial terms, ensuring it does not burden Petronas or the nation,” he added, while affirming that Malaysia will continue exporting LNG to other countries.

The agreement for Petronas to buy $3.4 billion worth of U.S. LNG each year is part of Malaysia’s broader deal with Washington aimed at reducing tariff rates from 25% to 19%. Anwar stated that the arrangement poses no problem, provided imports are based solely on actual needs and carried out under fair commercial terms.

Anwar highlighted that Petronas’ asset portfolio optimization is guided by a long-term strategic approach, commercial feasibility, and current global market conditions, without political influence.
According to Bloomberg data, Malaysia’s LNG imports rose to approximately 3.3 million metric tons in 2024, an increase from 2.1 million metric tons in 2021.

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