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Daily Express
2 days ago
- Business
- Daily Express
Energy Asia urges quicker transition
Published on: Friday, June 20, 2025 Published on: Fri, Jun 20, 2025 By: Larry Ralon Text Size: Taufik (right) with Dr Daniel Yergin (centre) and Dr Atul Arya at the closing session of Energy Asia 2025 on Wednesday. Kuala Lumpur: Energy Asia by Petronas and Knowledge Partner, CERAWeek by S&P Global concluded Thursday with a resounding call for urgent, inclusive and actionable delivery of the energy transition. Over the course of three days, the conference convened more than 4,000 attendees across 60 countries and 38 industries, including policymakers, financiers, technologists and energy professionals. Advertisement Leaders from governments and business also acknowledged that while the region has made considerable progress in setting targets and forging partnerships, the focus must now shift decisively toward delivery at speed and scale. Against the backdrop of intensifying global challenges, leaders reaffirmed that Asia plays a major role in the energy transition. The region's rising energy demand, economic growth and development needs make it both indispensable and distinct as such, transition strategies must be regionally grounded, prioritising energy access, affordability and socioeconomic progress. Notwithstanding, transitions in the developing world and emerging economies must be rooted on access and affordability and cannot come at the expense of energy security and sustainability. Advertisement Officiated by Prime Minister Seri Anwar Ibrahim, the conference centred on the theme 'Delivering Asia's Energy Transition'. Through more than 50 strategic dialogues, Energy Asia fostered pragmatic, multi-stakeholder collaboration with a shared sense of urgency. Speaking at the closing ceremony, Petronas President and Group CEO Tan Sri Tengku Muhammad Taufik, who is also Chairman of Energy Asia, said the objective of Energy Asia 2025 is to address the realities of the energy transition within the context of this region. 'The perspectives aired over the past three days have successfully highlighted the existing and emerging challenges faced and underscored the imperative to build a resilient energy system,' he said. 'Asia stands firm in our pragmatic and collaborative approach in shaping a just and equitable energy future for more than half of the global population. Beyond the thought leadership that was front and centre at the conference, Energy Asia 2025 also witnessed the formation of numerous new initiatives and partnerships that are positioned to deliver real outcomes for the region.' A landmark feature of this year's conference was the inaugural Energy Asia Global Leadership Executive Forum, a closed-door gathering of over 30 global CEOs and C-suite leaders from energy, finance, technology and professional services. This high-level dialogue produced alignment on four critical areas of action, namely sharing of best practices to build resilient energy systems; enhancing project bankability to unlock capital flows and investor confidence; reducing emissions while delivering social impact; and accelerating innovation and adoption of decarbonisation technologies. In a show of real momentum, Energy Asia 2025 also witnessed the signing of 14 Memoranda of Understanding (MoUs) and the advancement of several high-impact initiatives across technologies, geographies and business models. Notable announcements to support resilience of energy supply include Strategic Cooperation Agreement and Farm-Out Agreements between Petronas and TotalEnergies, deepening upstream collaboration in Malaysia; Joint Venture Framework Agreement between Petronas and Eni to explore a regional upstream joint venture; Award of the Temaris Cluster Small Field Asset PSC by Petronas, through Malaysia Petroleum Management (MPM) to Seascape Energy Asia (One) Sdn Bhd, advancing Malaysia's upstream development; LNG Sale and Purchase Agreement between Petronas LNG Ltd. and Commonwealth LNG, strengthening supply diversification through the United States; and MoU between Petronas and Jera to deepen collaboration across the gas value chain, supporting Japan's energy security and sustainability agenda. Equally, these announcements have matched by initiatives to support energy transition: Launch of Blue Carbon Collective by Petronas in collaboration with Mercedes-AMG Petronas Formula 1 Team, the University of Sao Paolo and Universiti Putra Malaysia to advance research in mangrove-based carbon capture and storage. Launch of Petronas Energy Transition Academy (P-ETA) to equip the energy workforce with skills for a low-carbon future. Formation of Jules Nautica Sdn Bhd, a joint venture between Petronas CCS Ventures, MISC Berhad and Mitsui O.S.K. Lines to own and operate liquefied carbon dioxide (LCO2) carriers for carbon capture and storage (CCS). The Energy Park which runs concurrently with the Executive Conference welcomed almost 14,000 visitors, who engaged with the exhibitions on innovation and emerging technologies and cutting-edge solutions from partners and collaborators of Energy Asia. Energy Asia aims to advance the region's Net-Zero ambitions by bringing together policymakers, industry captains and energy professionals through actionable solutions for a just and responsible energy transition. Spanning three days from June 16 to 18 at the Kuala Lumpur Convention Centre, Energy Asia is poised to deliver riveting thought leadership discussions alongside a showcase of cutting-edge technology and solutions. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
3 days ago
- Business
- Daily Express
Energy Asia 2025 ends with call for urgent regional transition action
Published on: Thursday, June 19, 2025 Published on: Thu, Jun 19, 2025 By: Larry Ralon Text Size: Taufik (right) with Dr Daniel Yergin (middle) and Dr Atul Arya during the closing session of Energy Asia 2025. KUALA LUMPUR: Energy Asia by Petronas and its Knowledge Partner, CERAWeek by S&P Global, concluded on Wednesday with a strong call for urgent, inclusive, and actionable delivery of the energy transition. Over the course of three days, the conference gathered more than 4,000 attendees from 60 countries and 38 industries, including policymakers, financiers, technologists, and energy professionals. Advertisement Government and business leaders acknowledged that, while the region has made significant progress in setting targets and forming partnerships, the focus must now shift decisively towards implementation at speed and scale. Amid intensifying global challenges, leaders reaffirmed Asia's critical role in the energy transition, noting that the region's rising energy demand, economic growth, and development needs require strategies that are locally grounded and prioritise energy access, affordability, and socioeconomic advancement. Transitions in developing nations and emerging economies, however, must remain rooted in access and affordability and cannot come at the expense of energy security and sustainability. Officiated by Prime Minister Datuk Seri Anwar Ibrahim, the conference was themed 'Delivering Asia's Energy Transition' and featured more than 50 strategic dialogues that encouraged pragmatic, multi-stakeholder collaboration with a shared sense of urgency. Advertisement Speaking at the closing ceremony, Petronas President and Group CEO Tan Sri Tengku Muhammad Taufik, who also chairs Energy Asia, said the objective of Energy Asia 2025 is to address the region-specific realities of the energy transition. He noted that discussions over the past three days had surfaced both existing and emerging challenges while underscoring the need to build a resilient energy system. A key highlight of this year's conference was the inaugural Energy Asia Global Leadership Executive Forum—a closed-door gathering of over 30 global CEOs and C-suite leaders from the energy, finance, technology, and professional services sectors. This high-level dialogue resulted in alignment on four priority areas: sharing best practices to build resilient energy systems; enhancing project bankability to unlock capital flows; reducing emissions while delivering social impact; and accelerating innovation and the adoption of decarbonisation technologies. Demonstrating real momentum, Energy Asia 2025 also saw the signing of 14 Memoranda of Understanding (MoUs) and progress on several high-impact initiatives spanning technologies, geographies, and business models. Key announcements included a Strategic Cooperation Agreement and Farm-Out Agreements between Petronas and TotalEnergies to deepen upstream collaboration in Malaysia; a Joint Venture Framework Agreement between Petronas and Eni for regional upstream exploration; and the award of the Temaris Cluster Small Field Asset PSC by Petronas, through Malaysia Petroleum Management (MPM), to Seascape Energy Asia (One) Sdn Bhd. Additional milestones included an LNG Sale and Purchase Agreement between Petronas LNG Ltd. and Commonwealth LNG to strengthen supply diversification via the United States; and an MoU between Petronas and Jera to enhance collaboration across the gas value chain, supporting Japan's energy security and sustainability goals. Energy transition-focused initiatives announced during the event included: The launch of the Blue Carbon Collective by Petronas in collaboration with the Mercedes-AMG Petronas Formula One Team, the University of São Paulo, and Universiti Putra Malaysia to advance mangrove-based carbon capture and storage research. The establishment of the Petronas Energy Transition Academy (P-ETA) to equip the energy workforce with skills for a low-carbon future. The formation of Jules Nautica Sdn Bhd, a joint venture between Petronas CCS Ventures, MISC Berhad, and Mitsui O.S.K. Lines, to own and operate liquefied carbon dioxide (LCO₂) carriers for carbon capture and storage (CCS). Running concurrently with the Executive Conference, the Energy Park welcomed nearly 14,000 visitors who explored exhibitions on innovation, emerging technologies, and solutions presented by Energy Asia's partners and collaborators. Energy Asia aims to propel the region's Net Zero ambitions by convening policymakers, industry leaders, and energy professionals around practical solutions for a just and responsible energy transition. Spanning three days from 16 to 18 June at the Kuala Lumpur Convention Centre, the event featured high-level dialogues and showcases of cutting-edge technologies. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Rakyat Post
5 days ago
- Business
- Rakyat Post
PM Anwar: Energy Transition Must Be Inclusive, As Southeast Asia Attracts Only 2% Of Global Clean Investment
Subscribe to our FREE Energy industry leaders have called for urgent collaborative action to accelerate Asia's transition to net-zero emissions at a major conference in Kuala Lumpur, warning of a 'polycrisis' of simultaneous global challenges. The Energy Asia conference, which opened on Monday (16 June), has brought together representatives from 38 industries across more than 60 countries. Participants discuss strategies for the region's energy transformation under the theme 'Delivering Asia's Energy Transition.' Prime Minister Datuk Seri Anwar Ibrahim officiated the three-day event at the Kuala Lumpur Convention Centre, hosted by state oil company PETRONAS and knowledge partner CERAWeek by S&P Global. PM Calls For Fair, Inclusive Energy Transition Amid Funding Gaps Anwar said the task is necessary as fossil fuels still account for nearly 80 per cent of the global energy supply. It would be unrealistic to assume that we can simply abandon this traditional dependence without first being given the opportunity to grow with confidence and meet the demands of new centres and emerging technologies. Anwar, who is also the Finance Minister, emphasised that the energy transition must be fair and inclusive, warning that decarbonisation efforts that overlook the poor and marginalised could worsen inequality, while stressing the need for universal access to affordable energy as fundamental to energy justice. He highlighted that Southeast Asia attracted only 2% of global clean energy spending in 2023 despite its renewable potential, calling for a clear financial architecture and a balanced approach that combines renewable energy with emissions-abated oil and gas to ensure affordable energy access during the region's path to net zero. Anwar delivering the Keynote Address at the Energy Asia 2025. (Pix: Petronas) AI Driving Massive Energy Demand PETRONAS President and Group CEO Tengku Tan Sri Muhammad Taufik Tengku Aziz warned that the world faces a 'polycrisis' of simultaneous challenges, including geopolitical conflicts and surging energy demand from artificial intelligence. He noted that electricity demand from data centres alone is expected to more than double from 415 Now, we stand at the threshold of what some might call the fifth industrial revolution, as AI is fast becoming an indispensable foundational technology across sectors. Tengku Muhammad Taufik speaking at the Energy Asia conference. (Pix: Petronas) Despite the Asia-Pacific region being home to 60% of the world's population, it currently accounts for only 40% of global energy use. However, this is expected to rise to 50% of global demand by 2050, requiring USD88.7 trillion in energy investment. Tengku Muhammad Taufik emphasised that energy security and climate action should be viewed as complementary rather than competing priorities. At Energy Asia, we now enjoy and benefit from the participation of almost 3,000 delegates from not just the oil, gas and energy industry, but also from power and utilities, technology and logistics, clean tech and renewables as well as financial and professional service providers – all coming together towards delivering a common purpose. CEO Forum Charts Collaboration Roadmap A central highlight was the inaugural Energy Asia Global Leadership Executive Forum, which brought together over 30 global CEOs from the oil and gas, energy, renewables, power, utility, technology, and finance sectors. The closed-door dialogue outlined four key areas for collaboration: Sharing best practices for creating resilient energy systems while adapting strategies within each organisation's context Improving project bankability and building investor confidence in financing energy transition projects Reducing emissions while delivering positive social impact and effectively communicating sustainability efforts Advancing innovation through shared expertise and accelerating decarbonisation within business environments Global Expertise On Display The conference features more than 180 globally renowned speakers, including the Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, TotalEnergies Chairman and CEO Patrick Pouyanné, and Meg O'Neill, CEO of Woodside Energy. Through more than 50 strategic dialogues spanning seven sub-themes, the conference will examine collaborative efforts across Asian nations to enhance energy security, promote the adoption of renewable energy, deploy decarbonization solutions, and facilitate technology transfer. The event also features an Energy Park showcasing transformational technology platforms, as well as the inaugural Present were Deputy Prime Minister Datuk Seri Fadillah Yusof, Finance Minister II Datuk Seri Amir Hamzah Azizan and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. READ MORE : Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
The Sun
6 days ago
- Business
- The Sun
Conflict escalation near Strait of Hormuz triggers one of most intense oil price rallies since 2022: Petronas
KUALA LUMPUR: The escalating conflict near the Strait of Hormuz has triggered one of the most intense oil price rallies since 2022, said Petroliam Nasional Bhd (Petronas) CEO Tan Sri Tengku Muhammad Taufik. 'In the past few days, the escalation of conflict around the Strait of Hormuz where 18 to 19 million barrels of oil – or 20% of the total global supply – flow through every day, have sent prices surging in anticipation of a supply shock,' he said in his welcoming speech at Energy Asia 2025 today. Tengku Muhammad Taufik said this is unfolding at a time when the world is still reeling from the US reciprocal tariffs. 'Today, we convene at a time when unrelenting uncertainty casts a long shadow on the unique pathways that each of us sought to travel towards our common destination.' Following developments in early April, when US President Donald Trump announced sweeping reciprocal tariffs against trading partners, global fragmentation has been exacerbated by a new kind of confrontation, he said, adding that geopolitical conflicts around the world have intensified and metastasised to neighbouring regions. 'All of us were prompted to reconfigure our behaviours in markets and accept a new norm rife with volatility.' Tengku Muhammad Taufik said Asia's vast solar, wind and natural gas resources present an opportunity as the world reels from supply shocks and energy volatility. 'Parts of Asia enjoy abundant solar irradiance. Here, we see long coastlines and annual monsoon winds, which present vast and untapped renewables potential. Asia is blessed with abundant viable geological formations for carbon capture and storage – combined with an opportunity to deploy cleaner natural gas, this all points to a growth destination.' He remarked that Asia will play a central role for the world's energy transition to be possible because in 2050 the population in Asia-Pacific is expected to rise to 5.2 billion. 'To power our economies, to fuel AI adoption across all industries, to keep the lights on for our population and to safeguard our communities, this region will represent 50% of global energy demand until 2050.' Therefore, Tengku Muhammad Taufik said, the stage must be set for Asia to build upon its achievements and accelerate the progress from where it stands today, as the centre of energy demand growth where opportunities are abundant. 'To address Asia's growth ambitions even as it aims to achieve net zero, US$88.7 trillion (RM376 trillion) in energy investment will be needed until 2050.' Investment and spending across both conventional and renewable energy systems continues to be required, he said. 'Today we are contending with increasingly erratic market forces, surging operating costs, rising temperatures and recurring natural disasters – all demanding us to act with immediacy and adapt with agility.' Energy Asia – hosted by Petronas and knowledge partner CERAWeek by S&P Global – gathers 38 industries from more than 60 countries under the theme 'Delivering Asia's Energy Transition' at the Kuala Lumpur Convention Centre. Officiated by Prime Minister Datuk Seri Anwar Ibrahim, Energy Asia is set against the backdrop of rising urgency and solidarity, bringing together policymakers, industry leaders and energy professionals to align strategies and pragmatic solutions that meet the unique challenges and opportunities of developing and emerging economies. 'At Energy Asia, we now enjoy and benefit from the participation of almost 3,000 delegates from not just the oil, gas and energy industry, but also from power and utilities, technology and logistics, clean tech and renewables as well as financial and professional service providers,' said Tengku Muhammad Taufik.
Barnama
6 days ago
- Business
- Barnama
Leaders Call For Urgent, Collaborative Action To Deliver Asia's Energy Transition
KUALA LUMPUR, June 16 (Bernama) -- Energy Asia opened today with a powerful call for bold and unified actionable solutions to advance Asia's transition towards net zero. Hosted by PETRONAS and Knowledge Partner, CERAWeek by S&P Global, the Conference gathers 38 industries from across more than 60 countries under the theme 'Delivering Asia's Energy Transition,' at the Kuala Lumpur Convention Centre. Officiated by the Honourable Dato' Seri Anwar Ibrahim, Prime Minister of Malaysia, Energy Asia is set against the backdrop of rising urgency and solidarity, bringing together policymakers, industry leaders and energy professionals to align strategies and pragmatic solutions that meet the unique challenges and opportunities of developing and emerging economies.
