Manila:Malaysia has emphasized the importance of strengthening regional collaboration to ensure a stable and affordable energy supply while advancing the transition to low-carbon energy. Economy Minister Akmal Nasrullah Mohd Nasir communicated this stance on behalf of Malaysia at the 4th Asia Zero Emission Community (AZEC) Ministerial Meeting in Manila, the Philippines.
According to BERNAMA News Agency, the Ministry of Economy stated that the AZEC collaboration supports the implementation of Malaysia's National Energy Transition Roadmap (NETR). This includes initiatives in energy efficiency, renewable energy, green mobility, infrastructure development, and transition financing. The statement also highlighted Malaysia's interest in cooperating on methane emission reduction, hydrogen, and carbon capture, utilization, and storage (CCUS) technologies, welcoming support from Japan and AZEC partners in technology, financing, and capacity building.
During the meeting, Akmal Nasrullah underscored that a just energy transition should account for the needs of the people, the country's capacity, and economic growth. Representatives from all 11 AZEC member countries attended the meeting, including Japan, Australia, Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
The meeting, co-chaired by representatives of the Japanese Economy, Trade and Industry Minister and Philippine Energy Secretary Sharon S Garin, focused on energy supply resilience amidst geopolitical uncertainties, such as potential disruptions through the Strait of Hormuz. Discussions also covered voluntary increases in oil storage capacity and cooperation under the Japan-led POWERR (Partnership On Wide Energy and Resources Resilience) Asia initiative for energy security.
Additionally, Akmal Nasrullah held bilateral talks with Josh Wilson, Australia's Deputy Climate Change and Energy Minister, on energy supply security and gas supply. Further discussions with Takagi Kei addressed Malaysia's role in AZEC and opportunities for cooperation in CCUS and hydrogen.
The session included a special meeting with Middle Eastern oil-producing nations, Saudi Arabia and the United Arab Emirates, exploring collaboration on petroleum supply security strategies. Akmal Nasrullah also witnessed the signing of a memorandum of understanding between IHI Corporation and TNB Power Generation Sdn Bhd for a feasibility study on ammonia fuel development and the exchange of a letter of intent between Japan's METI and Malaysia's PETRA concerning energy transition.