Petronas Calls for Stronger ET Collaboration

Petronas Calls for Stronger ET Collaboration
Petronas has called for a stronger collaboration among ASEAN governments, energy players and the public and private sectors.

Petroliam Nasional Berhad (Petronas) has called for a stronger collaboration among ASEAN governments, energy players and the public and private sectors to collectively leverage each other’s strengths in achieving a sustainable, low carbon future.

In a special address at the opening of the virtual ASEAN Energy Business Forum (AEBF) this week, the company’s president and group chief executive officer (CEO), Tengku Muhammad Taufik, recognized that the region has made a start towards carbon neutral energy pathways but said further opportunities remain to strengthen regional cooperation and create the right eco-system to promote a wider usage of energy from clean and sustainable sources.

Taufik added that government support and intervention in developing and implementing supportive energy policies and business friendly regulations are “pivotal” for businesses to survive, while public-private sector collaboration will help attract technology-based foreign direct investments as well as technology proprietorships and solutions providers.

The group CEO noted that natural gas remains core to Petronas as a cleaner source of fossil fuel. In addition to solar and wind, Petronas revealed that it is seeing opportunities in new energy sources that will complement its global liquified natural gas (LNG) portfolio. This includes hydrogen, where the company says it is now working towards sustainable coalitions with technology providers to develop zero-emission hydrogen fuel from bio-based products and carbon engineering.

Earlier this month, Petronas revealed that it had set itself a target to achieve net zero carbon emissions by 2050. As part of the goal, Petronas said it will continue to intensify its efforts towards reducing scope one and scope two greenhouse gas emissions from its assets.

The three day virtual AEBF assembled government and energy industry leaders across ASEAN to showcase national energy framework aspirations and promote conversations on potential business collaborations to realize common goals. 

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