PETRONAS, JOGMEC to Cooperate in Energy Transition Initiatives

KUALA LUMPUR, 6 March 2023 – PETRONAS has signed a Memorandum of Cooperation (MoC) with Japan Organization for Metals and Energy Security (JOGMEC) to cooperate in energy transition initiatives towards achieving respective energy transition and decarbonisation targets.

The initiatives include potential collaboration in green/blue hydrogen and fuel ammonia development, carbon capture and storage (CCS), as well as greenhouse gas (GHG) emissions management. The cooperation also aims to further enhance technical tie-ups and competencies in low-carbon technologies, while 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 Muhammad Taufik and JOGMEC Chairman and CEO, Tetsuhiro Hosono signed the MoC for their respective companies. The document exchange was witnessed by Malaysia’s Minister of Economy Mohd Rafizi Ramli and Japan’s Economy, Trade and Industry Minister, Yasutoshi Nishimura.

Datuk Tengku Taufik said, “PETRONAS is committed to investing in technology and innovation to accelerate the development of lower-carbon solutions for our customers. 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.”  

The signing ceremony was held on the sidelines of the Asia Zero Emission Community (AZEC) Public-Private Investment Forum organised by Japan’s Ministry of Economy, Trade and Industry in Tokyo.