Latest news with #EnergyAsia
CNBC
12 hours ago
- Business
- CNBC
How are data centers meeting energy requirements?
The International Energy Agency projects that energy consumption from data centers will almost double by 2030. CNBC's JP Ong explores how data center companies are managing and even meeting the increased energy requirements at the sidelines of the Energy Asia conference.
Daily Express
20 hours 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
2 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
Borneo Post
2 days ago
- Business
- Borneo Post
Pioneering AI venture to deliver breakthrough performance across upstream value chain
(From left) Petronas vice president of exploration Ahmad Faisal Bakar, Beiciep-Franlab chairman of the management board Thierry Le Maux, Petronas Carigali chief executive officer Hazli Sham Kassim, AFED Digital chief executive officer Mohammad Khazaidi Kamaruddin and AFED Digital executive director Afiq Hanafi Ramli during the JDA signing earlier this week. KUALA LUMPUR (June 19): Petronas Carigali Sdn Bhd have announced a groundbreaking strategic partnership for its upstream business with Beicip-Franlab, a leading geoscience and reservoir technology company, and AFED Digital, a specialist in advanced AI and digital solutions. Together, they entered into a joint development agreement (JDA) via TriCipta AI, a pioneering venture aimed at accelerating hydrocarbon discovery, reducing uncertainties, and maximising recovery sustainably across Petronas Carigali's operations. The partnership, which was signed during Energy Asia, will initially focus on delivering high-impact and tangible AI solutions to directly address key challenges in exploration, development, and production. Built on a long-term vision of collaborative success, the strategic partnership reflects Petronas' drive towards operational excellence and future readiness across its value chain. Petronas executive vice president and chief executive officer of upstream, Mohd Jukris Abdul Wahab said, 'This partnership reflects Petronas' firm commitment to collaborate for a future-ready Upstream digital and technology ecosystem. By integrating advanced AI and data-driven solutions across the value chain, PETRONAS is reinforcing our position as a resilient and adaptive upstream player.' This strategic move underscores Petronas' enduring drive for innovation and growth through partnerships, to deliver advantaged barrels in meeting sustainable energy needs. artificial intelligence corporate news Petronas
Fast Company
2 days ago
- Business
- Fast Company
Malaysia's gas-fired power capacity is set to skyrocket. The cause: data centers
Malaysia is expected to add 6–8 gigawatts of gas-fired power by 2030 to address growing electricity consumption driven by demand from data centres, an industry official said. The country is expected to see the fastest surge in data centre power demand in southeast Asia, with its share of electricity consumed by data centres in the region to triple to 21% by 2027 from 7% in 2022, a joint report in May by Bain & Co with others including Google and Temasek showed. Rising gas demand could see Malaysia, the fifth-largest exporter of liquefied natural gas (LNG), start importing the super-chilled fuel in four to five years, the head of state energy firm Petronas told the Energy Asia conference this week. Megat Jalaluddin, CEO of state utility Tenaga Nasional Berhad, said he expects Malaysia to add 6–8 gigawatts of gas-fired power by building new plants and extending the life of existing ones as it looks to cut dependence on coal. That represents a 40–54% increase from the current 15 GW of gas-fired capacity. Total power consumption in Malaysia is on track to increase 30% by 2030, and Malaysia has already invited industry proposals for supply, he said. 'We want to phase out coal responsibly. Then the next best option that can basically take the place of coal is gas,' he told Reuters on the sidelines of the Energy Asia event. Malaysia could also add as much as 10 GW of renewable capacity by 2030, more than doubling the 9 GW currently, as data centres push for access to cleaner sources of power, he said. In the last two years, Malaysia has turned to its coal-fired power plants to address surging demand which grew at the fastest pace in 14 years in 2024, according to energy think-tank Ember. Data centres are expected to require 19.5 GW of power generation capacity by 2035, accounting for 52% of Peninsular Malaysia's electricity use, from about 2% now, Deputy Prime Minister Fadillah Yusof told Reuters. Technology giants including Microsoft, Nvidia, Alphabet's Google and ByteDance have announced billions of dollars in investments in Malaysia since the beginning of last year, powering an infrastructure boom. Malaysia's southern state of Johor has emerged as Southeast Asia's hottest data centre hub due to its proximity to Singapore, relatively cheap land and power and faster approvals, real estate consultancy Knight Frank said in a report.
