The Sultan Takes the Lead on Energy Initiatives
On December 10, His Majesty Sultan Haji Hassanal Bolkiah led a series of high-level energy meetings at the Prime Minister’s Office. These proceedings included the 224th Board of Directors Meeting of Brunei LNG and the 110th Board Meeting of Brunei Gas Carriers (BGC). Attendees consisted of domestic, state-owned oil and gas entities as well as foreign, Western petroleum corporations and developers.
The Sultan highlighted the necessity and urgency of strong leadership, technical expertise, commitment, and cooperation to face the country’s energy and intertwined economic challenges. Brunei is a historic and critical oil and gas producer, and much of its revenue is still sourced from the petroleum industry, which has a finite production life. The Sultan’s outspokenness on the need to build a more diverse and resilient economy is a call to action for not just Brunei LNG and BGC but all foreign investors in this space.
As the Sultan provides guidance to open up and liberalize Brunei’s energy sector, foreign developers specializing in energy efficiency, diversification, and connectivity can ensure Brunei is able to make the most out of its remaining resources as well as nurture fledgling industries such as floating solar and hybrid-grid solutions.