KUCHING: Sarawak’s diversified energy portfolio is proving its worth as global fossil fuel prices remain volatile amid geopolitical tensions, says Delta Leasing Bhd executive chairman Dr Gregory Hii Sui Cheng.
He said uncertainty arising from the US-Iran conflict had intensified concerns over fuel costs and highlighted the importance of developing alternative energy sources.
“With the price of fossil fuel becoming so volatile because of the US-Iran conflict, Sarawak can count ourselves lucky with the Sarawak government’s earlier diversification programme of energy sources,” he said.
Hii was commenting on an article that noted crude oil prices may remain elevated despite a recent US-Iran peace deal.
He said Sarawak’s growing reliance on renewable energy had reduced its exposure to fluctuations in global fossil fuel markets.
“Now we have clean hydro power, solar energy and wind power to mitigate against overdependence on fossil fuel,” he said.
He also thanked Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg for steering the state’s longterm energy diversification strategy.
