Latest news with #EnergyAsia2025
Daily Express
6 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
The Star
19 hours ago
- Business
- The Star
PETRONAS should adapt to new energy transition demands amid economic and geopolitical uncertainties
Petroliam Nasional Bhd (PETRONAS) president and group chief executive officer (CEO) Tan Sri Tengku Muhammad Taufik Tengku Aziz speaking at Energy Asia 2025 KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) must face new demands in the energy transition era to remain relevant amid current economic uncertainties and geopolitical tensions. Its president and group chief executive officer, Tan Sri Tengku Muhammad Taufik Tengku Aziz, said that in the short term, hydrocarbon production must be cleaner and lower in carbon intensity to reduce greenhouse gas emissions, in addition to addressing methane leaks according to standards. "Firstly, gold certification for oil and gas methane partnership (OGMP) 2.0 is a must. Secondly, we will avoid flaring or routine venting of gas, and so far, more than 20 of our assets have tackled this by practising zero routine flaring. "In the medium to long term, offerings such as carbon capture and storage (CCS) and specialty chemicals should be accelerated as soon as possible, and I believe this requires the right platform, and investments need to be made,' he told Bernama TV in an exclusive interview during the Energy Asia 2025 conference here yesterday. Tengku Muhammad Taufik highlighted that the national oil and gas company must undergo a transformation, where it is no longer optional but a necessity to prepare for a low-carbon energy system. "In the past, we were production-oriented; we produced, and people would buy. Now, we need to understand more; we will only produce what people are willing to buy. "Willing to buy in terms of capability and needs, so if it is just to supply energy in the form of liquefied natural gas (LNG) to traditional markets like Japan, perhaps now it is not enough,' he said. Tengku Muhammad Taufik said PETRONAS is focusing on high-value assets and implementing strategic portfolio optimisation, including increasing or reducing holdings to optimise capital allocation, improve returns, and strengthen focus to support sustainable growth. "Like any other energy player in the sector, optimising the portfolio is a mandatory activity and will always be practised. "If this implementation requires us to sell assets with possibly higher carbon emissions and replace them with new assets that can extend the production life from the upstream sector, we will do that,' he said. For the downstream sector, Tengku Muhammad Taufik said that if the divestment of assets causes margins to be affected, PETRONAS will replace them with assets that have more stable margins and are less exposed to uncertainties. "This is where entities like Gentari come in, profits might be less, but it is less exposed to uncertainties,' he said. Gentari is a clean energy solutions company, wholly owned by PETRONAS. - Bernama
Barnama
19 hours ago
- Business
- Barnama
Petronas Should Adapt To New Energy Transition Demands Amid Economic And Geopolitical Uncertainties
BUSINESS By Kamarul Ariffin Md Yasin & Siti Nurhana Shafirah Mat Nazir KUALA LUMPUR, June 19 (Bernama) -- Petroliam Nasional Bhd (Petronas) must face new demands in the energy transition era to remain relevant amid current economic uncertainties and geopolitical tensions. Its president and group chief executive officer, Tan Sri Tengku Muhammad Taufik Tengku Aziz, said that in the short term, hydrocarbon production must be cleaner and lower in carbon intensity to reduce greenhouse gas emissions, in addition to addressing methane leaks according to standards. 'Firstly, gold certification for oil and gas methane partnership (OGMP) 2.0 is a must. Secondly, we will avoid flaring or routine venting of gas, and so far, more than 20 of our assets have tackled this by practising zero routine flaring. 'In the medium to long term, offerings such as carbon capture and storage (CCS) and specialty chemicals should be accelerated as soon as possible, and I believe this requires the right platform, and investments need to be made,' he told Bernama TV in an exclusive interview during the Energy Asia 2025 conference here yesterday. Tengku Muhammad Taufik highlighted that the national oil and gas company must undergo a transformation, where it is no longer optional but a necessity to prepare for a low-carbon energy system. 'In the past, we were production-oriented; we produced, and people would buy. Now, we need to understand more; we will only produce what people are willing to buy. 'Willing to buy in terms of capability and needs, so if it is just to supply energy in the form of liquefied natural gas (LNG) to traditional markets like Japan, perhaps now it is not enough,' he said. Tengku Muhammad Taufik said Petronas is focusing on high-value assets and implementing strategic portfolio optimisation, including increasing or reducing holdings to optimise capital allocation, improve returns, and strengthen focus to support sustainable growth.
Daily Express
a day 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
a day ago
- Business
- Borneo Post
Woodside and Petronas eye long-term LNG supply
Woodside Energy vice president of business development and origination Jae Yoon Song (left) and PLL chief executive officer Ezran Mahadzir during the HOA signing. KUALA LUMPUR (June 19): Woodside Energy and Petronas, through its subsidiary Petronas LNG Ltd (PLL), have signed a non-binding heads of agreement (HOA) for the supply of one million tonnes per annum of LNG to Malaysia from 2028 for a period of 15 years. The LNG would be supplied from Woodside's global portfolio, and may include the recently approved Louisiana LNG project in the United States. Held on the sidelines of Energy Asia 2024, the HOA reflects the shared ambition of both companies to formally commit to deepening cooperation across the LNG value chain, building a relationship of mutual trust, benefit and success. Woodside executive vice president and chief commercial officer Mark Abbotsford welcomed the HOA with Petronas, recognised globally as one of Asia's most respected energy companies. 'This agreement marks the beginning of a new era of collaboration between Woodside and Petronas, and is an important step towards what would be our first long-term LNG sales to Malaysia. It reflects the value global buyers see in Woodside's Louisiana LNG project and our reputation as a safe and a reliable supplier of energy to Asia.' The agreement is expected to support Petronas' efforts to ensure secure, flexible LNG supply to meet growing demand in Peninsular Malaysia and the broader Asia-Pacific region. 'We are pleased to launch our new collaboration with Woodside, a leading supplier of LNG to Asia. We hope this will be the start of cooperation between Petronas and Woodside on future opportunities to support energy security and sustainability across the region,' said Shamsairi Ibrahim, Petronas vice president of LNG marketing and trading. The agreement was exchanged at the Energy Asia 2025 conference in Kuala Lumpur in the presence of Woodside CEO Meg O'Neill and Petronas executive vice president and chief executive officer of gas and maritime business Datuk Adif Zulkifli. The parties are now working to convert the HOA into a sales and purchase agreement. Woodside and Petronas share a long-standing relationship, having previously cooperated on exploration studies and research and development initiatives along with both spot and mid-term LNG sales and purchases. corporate news energy Energy Asia 2025 oil and gas Petronas
