Malaysia Oil and Gas PipelineCompanies (2024 - 2029)

Malaysia Oil and Gas Pipeline Market Companies Summary

The Malaysian oil and gas pipeline industry was negatively impacted by the COVID-19 pandemic. The government's Movement Control Order (MCO) to curb the spread of the virus disrupted oil and gas operations in the country. However, factors such as increasing demand for oil and gas, an increase in offshore oil and gas discovery activities, and rising investment in the industry are expected to boost the need for the Malaysian oil and gas pipeline market. On the downside, declining oil and gas production levels and a lack of policies on oil stockpiles may hinder the growth of the industry. The natural gas pipeline segment is expected to see significant growth due to increasing support in the natural gas sector. The Association of South East Asian Nations (ASEAN) is promoting the development of a Trans-ASEAN Gas Pipeline system (TAGP), which aims to connect ASEAN's major natural gas production and consumption centres through a network of natural gas pipelines. This large-scale project is expected to drive the pipeline industry's growth and present a crucial opportunity for market players. However, the gradual decline in gas and oil production in Malaysia is a concern for businesses in the industry, and it's expected to act as a restraint for the market.