Malaysia Strengthens Energy Supply Cooperation, Low-Carbon Transition Through AZEC 2026

MANILA: Malaysia has emphasised the importance of strengthening regional cooperation to ensure a stable and affordable energy supply while accelerating the transition to low-carbon energy.

Economy Minister Akmal Nasrullah Mohd Nasir said the energy transition must be carried out fairly, taking into account the needs of the people, national capabilities and economic growth.

He said geopolitical uncertainties, including the risk of oil supply disruptions through the Strait of Hormuz, called for closer cooperation among regional countries to ensure energy security.

He conveyed Malaysia’s position while representing the country at the Fourth Asia Zero Emission Community (AZEC) Ministerial Meeting in Manila, the Philippines, today.

The meeting was attended by representatives from 11 AZEC member countries, including Japan, Australia, Malaysia, Indonesia, Singapore and Thailand.

According to a statement from the Ministry of Economy, discussions included efforts to voluntarily increase oil storage capacity based on each member country’s capabilities, as well as cooperation under the POWERR Asia initiative.

“A just energy transition must take into account the needs of the people, national capabilities and economic growth,” the statement said, reflecting Akmal Nasrullah’s position.

For Malaysia, AZEC cooperation also complements the implementation of the National Energy Transition Roadmap (NETR), particularly in renewable energy, energy efficiency, green mobility and infrastructure development.

The cooperation also opens up opportunities in hydrogen development, methane emissions reduction, and carbon capture, utilisation and storage (CCUS) technologies.

Meanwhile, Akmal Nasrullah held a bilateral meeting with Australia’s Assistant Minister for Climate Change and Energy, Josh Wilson, to discuss energy security and gas supply between the two countries.

He also held discussions with Japan’s State Minister of Economy, Trade and Industry, Takagi Kei, on potential cooperation in hydrogen and CCUS technologies.

A special meeting with Saudi Arabia and the United Arab Emirates focused on strategies to ensure petroleum supply security.

During the programme, Akmal Nasrullah witnessed the signing of a memorandum of understanding (MoU) between IHI Corporation and TNB Power Generation Sdn Bhd (TNB Genco) for a feasibility study on ammonia fuel development.

He also witnessed the exchange of a letter of intent between Japan’s Ministry of Economy, Trade and Industry (METI) and Malaysia’s Ministry of Energy Transition and Water Transformation (PETRA) on energy transition cooperation.

Malaysia will continue leveraging AZEC as a cooperation platform to strengthen energy security and accelerate the transition towards a low-carbon economy across the ASEAN region.

Vom24.com