Petronas, a global energy group, has signed a Memorandum of Cooperation (MoC) with the Ministry of Economy, Trade and Industry of Japan (METI) as well as a Memorandum of Understanding (MoU) with Japan Bank for International Cooperation (JBIC), to collaboratively pursue sustainability goals of carbon neutrality by 2050.
The MoC with METI aims to enhance the cooperation between Petronas and Japan in the development and utilisation of energy sources and technologies towards the energy transition.
The MoU with JBIC focuses on expanding and enhancing collaboration between Petronas and Japanese companies in projects undertaken by Petronas globally in a variety of sectors including: hydrogen and ammonia, renewable energy, carbon capture and storage (CCS), and green mobility.
The MoC and MoU are expected to facilitate investment and financing, and also enhance technical collaboration and competencies in low-carbon technologies in the region.
Datuk Tengku Taufik, President and Group CEO of Petronas says: ‘Japan has been our trusted and valued partner since the days of our first LNG exports in the early 1980s, and this partnership has expanded to include new areas of collaboration in the clean energy space. Petronas is pleased to continue further strengthening our ties through this collaboration with METI and JBIC in pursuing green growth for Asia towards a just energy transition.’
