Southeast Asian countries are ramping up investments in renewable energy projects, with a projected spend of over $76 billion between 2023 and 2025.
Major regional NOCs like Indonesia’s Pertamina and Malaysia’s Petronas are actively investing in green initiatives, such as geothermal and carbon capture.
Major regional NOCs like Indonesia’s Pertamina and Malaysia’s Petronas are actively investing in green initiatives, such as geothermal and carbon capture. Regional NOCs like Indonesia’s Pertamina are expanding their participation in geothermal, while Malaysia’s Petronas aims to establish a notable presence in the carbon capture, utilization and storage market. The Malaysian NOC announced ambitious plans to build the world's largest dedicated facility by 2025, actively pursuing partnerships with international entities to unlock regional project potential.
Southeast Asia has historically seen slower progress in the development of clean energy projects. Effective collaboration between private and public sectors becomes crucial to ensure the region's sustainable long-term growth. Asia is currently making significant strides in prioritizing the shift towards greener energy sources, supported by the renewed focus of NOCs.
Between 2023 and 2026, Petronas will spend $450 million on CCUS projects and $330 million on hydrogen developments. Vietnamese NOC PetroVietnam is collaborating with Danish company Orsted and T&T Group to launch the country’s first offshore wind projects. This partnership underscores their commitment to diverse portfolios and regional low-carbon development. The project aims to generate about 13,665,600 megawatt-hours annually, utilizing 20-megawatt turbines standing 150 to 200 meters tall.
Belgique Dernières Nouvelles, Belgique Actualités
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