Malaysia rebuttal reflects mistrust of China's 'Belt and Road' plan
Is Malaysia’s repudiation of China’s “unequal treaties” a sign of things to come?
Malaysia's abrupt cancellation of $3bn worth of China-backed pipeline projects represents probably the biggest knockback so far for President Xi Jinping's Belt and Road initiative. This initiative has been bankrolling large-scale energy projects right across the region. Work on the pipelines was suspended in July, but the cancellations were announced in early September. They involve two oil and gas pipelines in mainland Malaysia and Borneo, and another linking the state of Malacca to a Petronas facility in Johor. The contracts had been signed under former prime minister Najib Razak, who is facing trial next year over corruption allegations. The new Malaysian government's show of independence
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
