KUALA LUMPUR, 23 May 2022 – PETRONAS and key energy players at the ASEAN Energy Sector Methane Roundtable 2022 are intensifying collaboration on methane emissions management in the region by leveraging collective capabilities, global best practices and actionable insights to progress the shared ambition towards a lower-carbon future.
The virtual Roundtable, the second in the series held on 19 May 2022, was hosted by PETRONAS and supported by Thailand’s PTT Public Company Limited (PTT) and Indonesia’s PERTAMINA. The initiative is part of the collaborative effort between energy companies to raise awareness, elevate conversation and champion the climate change agenda in the region, particularly on effective methane emissions management.
The session was attended by participants from PETRONAS, PTT, PERTAMINA and key ASEAN oil and gas companies as well as international organisations such as the International Energy Agency (IEA), the World Bank, the UN Environment Programme (UNEP) and the Environment Defense Fund (EDF). Also present were representatives from the Ministry of Environment and Water, Malaysia (KASA), the Economic Planning Unit, Prime Minister’s Department, Malaysia (EPU), Embassy of the United States of America in Malaysia, the Ministry of Economy, Trade and Industry (METI), Japan and Japan Oil, Gas and Metals National Corporation (JOGMOC).
In his welcoming address, PETRONAS President and Group CEO, Datuk Tengku Muhammad Taufik said a transition strategy that is responsible and equitable is key to ensure the sustainability of ASEAN’s energy system.
He said, “As part of our duty as energy companies, it is imperative that we navigate these challenges with a deep-rooted purpose. We must remain at the heart of an effective engine to drive economic recovery by providing energy that is clean, reliable and affordable as well as rally support to shape an ecosystem that will enable a responsible and just transition.
“I am confident that our collaboration will progress into a community of practice with concrete steps that each organisation could take towards driving greater sustainability and most importantly, in supporting our respective countries’ National Determined Contributions (NDC) to the Paris Agreement for the long term,” he added.
Methane emissions management gained significant traction at the UN Climate Change Conference (COP26) in Glasgow, United Kingdom in 2021 when over 100 signatory countries, or more than two-thirds of the global economy, signed on to the Global Methane Pledge. The ASEAN signatories to the Global Methane Pledge are Malaysia, Indonesia, Philippines, Singapore, Vietnam, and Timor Leste.
The signatory countries pledged to slash global methane emissions by at least 30 per cent from 2020 levels by 2030. Cutting methane could reduce global warming by 0.2 degree Celsius by 2050.
The ASEAN energy companies at the Roundtable are leveraging their strong presence and network to promote capability building and technical knowledge sharing to improve their practices and be transparent about their performance reporting, aligned with internationally recognised frameworks and standards, in contributing towards a sustainable future.
A series of roundtables will be held bi-annually over the next five years, collaboratively hosted, and championed by the energy players of ASEAN.