Malaysia’s state-owned energy company, Petronas, is eyeing carbon capture and storage (CCS) as a potential source of future income, CEO Tengku Muhammad Taufik Tengku Aziz said on Monday at the Energy Asia conference in Kuala Lumpur.
Speaking at the event, the Petronas chief also noted that the company is laying the groundwork to enable Malaysia to handle liquefied natural gas (LNG) imports in the years ahead, Reuters has reported.
Relevant: RINA And PETRONAS CCS Solutions To Support Major Carbon Capture Project In Malaysia
Energy Asia 2025—a leading forum highlighting Asia’s central role in the global energy transition—is taking place on 16-18 June in the capital of Malaysia.
This second edition is convening policymakers, industry leaders, and experts under the theme Delivering Asia’s Energy Transition to foster actionable strategies and partnerships for sustainable and inclusive energy growth across developing and emerging economies.
Malaysia’s government has pledged to set a competitive levy rate for Carbon Capture, Utilization, and Storage (CCUS), aligning with global standards.
The newly introduced CCUS Bill—viewed as a key move in addressing climate change and advancing Malaysia’s leadership in low-carbon technologies—had its first reading in the Dewan Rakyat at the beginning of March 2025.
The proposal is set for a second reading during the current parliamentary session.
Read more: Malaysia CCUS Law To Boost Economic Growth And Combat Climate Change
