Malaysian utility firm Tenaga Nasional Berhad (TNB) has partnered with state-owned oil and gas firm Petroliam Nasional Berhad (Petronas) to explore carbon capture and storage (CCS) technology for gas-fired power plants.
The duo said in a statement on Monday that they have signed a memorandum of understanding (MoU) for the partnership.
According to the statement, this collaborative endeavor underscores both parties’ commitment to Malaysia’s National Energy Transition Roadmap (NETR) and aligns with the country’s ambition to attain net zero carbon emissions by 2050.
TNB Chief Executive Officer Baharin Din emphasized that the MoU strengthens TNB and PETRONAS’s commitment to NETR.
He said that CCS stands out as one of the key energy transition levers outlined in the NETR, and this MoU will enable TNB and Petronas to synergize their expertise and align their efforts in the realm of CCS technology for gas-fired power plants.
“TNB is fully committed to achieving Net Zero by 2050 and is actively pursuing various initiatives to drive decarbonization in Malaysia. Among these efforts include the capturing and storing of carbon during power generation at gas-fired power plants,
“The MoU resonates with TNB’s environmental, social and governance (ESG) agenda signifying our unwavering commitment to environmental sustainability through the exploration of CCS technology and aligning with Malaysia’s NETR,” he added.
According to him, the MoU bears testimony to the shared conviction of both Petronas and TNB to deliver a pathway to responsibly provide energy security while supporting the low carbon aspirations set forth in the NETR.
“With the combined experience and technical capabilities as owners of energy infrastructures, Petronas looks forward to accelerating the development and deployment of CCS technology as part of a decarbonized energy system,
“Together, we can tap the full potential of technologies at our disposal focused on the immediate need to reduce emissions. On our part, Petronas remains resolute to unlocking the solutions that will move the needle towards a more sustainable future – aligned to our net zero by 2050 target,” he added.
As Malaysia transitions to a low-carbon economy, the statement noted that natural gas will play a pivotal role in the country’s energy landscape, offering a reliable and affordable transitional base load power source.
TNB is a Malaysian utility company in Asia with an international presence in the United Kingdom, Kuwait, Turkiye, Saudi Arabia, and India.
Within the renewable energy space, as of December 2022, TNB has a total gross portfolio of 2,896MW in Malaysia (including 2,536.1MW of large hydro) and 993MW across the United Kingdom, Turkiye, and India comprising mainly solar, wind, and hydro energy generation assets.
In addition to being the Malaysia’s primary electricity generation enterprise, TNB also transmits and distributes all the electricity in Malaysia.
As of May 31, 2023, the firm supplies electricity to approximately 10.7 million customers.
Petronas is a Malaysian energy group with presence in over 100 countries.
The group produces and delivers energy and solutions and its group portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.