Petronas and the Ministry of Economy, Trade, and Industry of Japan as well as the Japan Bank for International Cooperation are collaboratively pursuing mutual sustainability goals of achieving carbon neutrality by 2050.
The aim of this partnership is to enhance the cooperation between the national oil giant and Japan in the development as well as utilisation of energy sources and technologies to achieve pragmatic energy transition.
This will also enhance bilateral cooperation between Japanese companies in projects undertaken by Petronas globally in a variety of sectors including value chain development of hydrogen and ammonia, renewable energy, carbon capture and storage (CCS), and green mobility.
The MoC and MoU are expected to facilitate investment and financing, and also enhance technical collaboration and competencies in low-carbon technologies in the region.
In his speech at AGGPM, Datuk Tengku Taufik said, “Japan has been our trusted and valued partner since the days of our first LNG exports in the early 1980s, and this partnership has expanded to include new areas of collaboration in the clean energy space. PETRONAS is pleased to continue further strengthening our ties through this collaboration with METI and JBIC in pursuing green growth for Asia towards a just energy transition.”
He added that stronger collaboration and partnership, including better access to technology and financing, are key to achieving an effective and balanced energy transition.
The collaboration is timely in view of Malaysia’s recently launched National Energy Policy (NEP) which outlines long-term development plans for the country to simultaneously meet its energy needs while transitioning to a low carbon future.
Datuk Tengku Taufik said, “Guided by the NEP and our internal goals, in fulfilling its purpose as a progressive energy and solutions partner PETRONAS will continue to pursue synergistic collaborations in support of Malaysia’s energy agenda and the Group’s own aspirations for continued growth in this space.”
