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BMCC Energy Outlook 2020

4 Mar 2020

The BMCC organised an evening forum that brought major players and likeminded attendees together to exchange views on the current and future trajectory of the oil, gas and energy sector in Malaysia. The forum, attended by nearly 120 guests was an initiative of the BMCC Energy Committee and was sponsored by Fulkrum and Wood.

Representing the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC), Pn. Mareena Mahpudz, Senior Undersecretary (Electric Supply) provided a snapshot of the national energy landscape, with a focus on the electricity industry. In 2020 and beyond, MESTECC will be focusing on several key goals, which include (1) Enhancing Governance of Malaysia’s Electricity Supply Industry (MESI), (2), Ensuring Sustainability of Sabah’s Electricity Supply Industry (SESI), (3) Achieving 20% Renewable Energy in 2025 and (4) Achieving 8% Savings from Energy Efficiency in 2025.

Following that, Ir. Mohd Yusrizal Mohd Yusof, Managing Director of TNB Renewables Sdn Bhd presented on TNB’s Vision on Renewable Energy until year 2025, which foresees Renewable Energies (RE) displacing current mainstream fossil fuel options. Solar is expected to play a major role in driving RE, with mini hydros and biogas set to play key roles.

A segment by PETRONAS was featured in the forum by means of a video promoting this year’s edition of their PETRONAS Activity Outlook 2020-2022 report. The comprehensive 80-page publication presents a detailed upstream-downstream business outlook of Malaysia, along with special focusses on digital procurement, the technology agenda, Discovered Resource Opportunities (DRO) and Late Life Assets (LLA). To download your copy of the report, click here.

From the Energy Industries Council (EIC), Mr. Azman Nasir, Regional Director (Asia Pacific) then covered the commitment of governments and energy companies in US, Europe and the UK towards tackling climate change, and the pressure on Asian companies to do the same. Therein however lies plenty of business opportunities in this energy transition for both Malaysian and UK companies, such as switching to natural gases, carbon capture storage and hydrogen alternatives.

The speakers took various questions of interest from the audience before Mr. Hanif Hashim, BMCC Energy Committee Chairman, Board Director and General Manager at Petrofac Malaysia concluded proceedings with his closing remarks. Thanking the sponsors, supporting partners and speakers, he also thanked the audience for the positive turnout amidst concerns of attending public events, assuring too that all possible safety measures had been taken. In recalling the oil crisis of years past, Hanif hailed the importance of collaborations between energy companies to pull through global and domestic headwinds.

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