Australia, Malaysia pledge to strengthen energy supply cooperation in wake of Iran war

Malaysia Prime Minister Anwar Ibrahim said on Thursday (April 16) that state energy firm Petronas would give priority to providing Australia with its excess fuel supplies, as the two countries sought to bolster energy security following the disruptions caused by the Middle East conflict.

Anwar said he had obtained an assurance from Petronas on the matter following discussions with his Australian counterpart Anthony Albanese on boosting agricultural and fuel trade.

Malaysia is Albanese's third stop in Southeast Asia in the past week, following trips to Singapore and Brunei, as Canberra looks to shore up food and energy supplies.

Australia also pledged to honor existing contracts with Malaysia, despite disruptions, Albanese said. Australia is a major supplier of natural gas to Malaysia, which imports about 20% of its domestic supplies, as well as a provider of wheat, lamb and beef products.

Anwar and Albanese also witnessed the signing of a memorandum of understanding between the two countries on halal meat trade, a deal that the Australian leader said would boost the country's red meat exports and support Malaysia's food security.

-Mandy Leong Huey Mun/Reuters