This initiative is expected to drive energy transition and promote sustainable energy development in the region. Credit: Petronas.

Petroliam Nasional Berhad (Petronas) and China National Petroleum Corporation (CNPC) have signed an MOU for integrated sustainable energy solutions.

The MOU was signed at the CNPC International Cooperation Forum during the 7th China International Import Expo (CIIE).

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The CIIE advocates for open, inclusive, balanced and mutually beneficial globalisation, which resonates with Petronas’ global strategy.

The collaboration aims to strengthen partnerships in upstream exploration and production of oil and gas internationally, as well as the liquefied natural gas (LNG) value chain.

The signing ceremony was attended by Tan Sri Tengku Muhammad Taufik, president and group CEO of Petronas, and Dai Houliang, chairman of CNPC.

The MOU was signed by Hazli Sham Kassim, vice-president of development of upstream Petronas, and He Wenyuan, general manager of China national oil and gas exploration and development, CNODC.

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Additionally, the MOU will focus on pioneering ventures in advanced sectors like specialty chemicals, renewable energy, green hydrogen technology, and carbon capture, utilisation, and storage.

The agreement also aims to establish an open communication platform to facilitate the exchange of knowledge, insights and best practices aimed at accelerating energy transition and promoting sustainable energy development in the region.

Petronas has historically provided China with a stable energy supply including LNG, petrochemical products, crude oil, petroleum products and lubricants.

By strengthening cooperation with Chinese energy companies, the company has supported China’s energy sector transformation and economic development.

In a related development, Petronas, through its division Malaysia Petroleum Management, entered two strategic MOUs to advance technology and operational efficiency in Malaysia’s exploration and production sector.

These agreements were formalised at ADIPEC 2024, held on 4–7 November in Abu Dhabi.