Global Energy Security and Malaysian Perspective: A Review

Abstract

This paper serves to review the status of energy security in Malaysia and the strategic planning that was taken to enhance the future energy security. Since the early stage of industrial revolution in 2002, Malaysia enjoyed a continuous development in the sector due to the prosperous in natural resources such as oil, gas and coal. However, due to the excessive development without proper planning, Malaysia is now facing a problem of energy insecurity as ample of resources are needed to sustain the domestic development. With issues of price volatility and the reduction in oil production, the oil business become unstable. It leads to the thriving of natural gas and coal which enable energy generation. Nonetheless, these resources are finite and could be run out one day in the future. Hence, the government of Malaysia has been doing strategic planning for the development of Malaysia to ensure its energy security. These plannings include the management of current reservoir and the energy policy, which enhance the effectiveness of energy usage within Malaysia to ensure energy security in Malaysia.