Shares of Malaysia’s Petronas Gas fall as much as 38 sen after major pipeline blaze

[KUALA LUMPUR] Shares of Petronas Gas, a subsidiary of Petroliam Nasional (Petronas), traded lower for most of Wednesday’s (Apr 2) market session due to a major gas pipeline fire that disrupted operations. However, the shares ended the day unchanged and analysts predict a limited financial impact.

The early morning gas pipeline rupture on Tuesday in Putra Heights, around 36 km from capital Kuala Lumpur, triggered a massive fire that sent flames soaring 500 m into the sky.

The fire was extinguished around 4 pm, but not before it damaged 235 premises and nearly 400 vehicles, displacing over 500 people and injuring more than 100, Subang Jaya police chief Wan Azlan said. No fatalities were reported.