- Petroliam Nasional Bhd (Petronas) signs two Memoranda of Understanding (MoU) with UAE based Abu Dhabi National Oil Company (ADNOC) and Masdar.
- The main purpose of this MoU is to pursue collaborations across the energy value chain.
- The two partnerships mark a significant milestone in Malaysia-UAE bilateral relations, Petronas said.
An Edge Markets news article brings out he MoU signed between Petroliam Nasional Bhd (Petronas) with UAE based Abu Dhabi National Oil Company (ADNOC) and Masdar.
Key people’s opinion
Commenting on the MoU with ADNOC, Tengku Muhammad Taufik said: “Petronas believes the collaboration with ADNOC bears strong testimony to the shared vision of both organisations to pursue value creation through progressive and cleaner energy solutions as we navigate the challenges of an accelerating energy transition.”
They look forward to working together with ADNOC to address growing energy demand in a responsible and sustainable way.
An important step in Masdar’s journey
This agreement marks an important step in Masdar’s journey to expand their presence in the Asian market.
It is the place where they see tremendous potential given the region’s rapid economic growth and potential renewable energy resources.
Large-scale solar and wind opportunities
According to Petronas, both parties will explore joint participation in large-scale solar and wind opportunities for utilities, commercial and industrial customers, focusing primarily in Asia.
It will also explore opportunities for joint production of green hydrogen.
Petronas pointed out that it is gearing towards commercialising low-carbon hydrogen produced from its existing facilities, and is pursuing commercial production of green hydrogen in the near future.
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Source : The Edge Markets
