Malaysia’s PETRONAS and Japan’s JOGMEC to work together in energy transition
Malaysia’s PETRONAS has entered into a partnership with Japan Organization for Metals and Energy Security (JOGMEC) to work together in energy transition. The duo signed a Memorandum of Cooperation to jointly work in cooperation to achieve respective energy transition and decarbonisation targets. The signing was held on the sidelines of the Asia Zero Emission Community Public-Private Investment Forum.
The duo has agreed for “potential collaboration in green/blue hydrogen and fuel ammonia development, carbon capture and storage (CCS), as well as greenhouse gas (GHG) emissions management,” the statement reads.
Meanwhile, the cooperation further includes enhancing technical tie-ups and competencies in low-carbon technologies. A local report mentioned that it will also lead towards “spurring business opportunities and providing technical and financial support for Japanese companies to participate in PETRONAS’ projects, both within and outside of Malaysia.”
PETRONAS President and Group CEO Datuk Tengku Taufik remarked, “Through synergistic collaboration with like-minded partners such as JOGMEC, we are pleased to continue strengthening efforts in driving innovation and scalability in clean energy towards realising our Net Zero Carbon Emissions 2050 targets and pursuing a responsible and just energy transition for Asia.” He further stated that the group is committed to investing in technology and innovation to boost the development of lower-carbon solutions.