TNB earmarks RM43bil to upgrade national grid with AI, battery storage systems
KUALA LUMPUR: National utility company Tenaga Nasional Bhd has committed RM43 billion to upgrade the national grid infrastructure, said Prime Minister Datuk Seri Anwar Ibrahim.
He said that the upgrade will incorporate artificial intelligence and battery energy storage systems to build greater resilience and flexibility for the future.
"We must invest in improving efficiency and reducing emissions within our existing energy systems, a formidable task, given that fossil fuels still account for nearly 80 per cent of global supply.
"Most importantly, this transition must be anchored in equity," the prime minister said in his keynote address at the Energy Asia 2025 conference today.
Anwar also issued a reminder that decarbonisation efforts that ignore the needs of the poor and vulnerable risk deepening inequality.
Touching on ASEAN, he highlighted that the bloc has already laid the groundwork for this pragmatic pathway through the ASEAN Carbon Capture and Storage (CCS) Deployment Framework and Roadmap, which aims to streamline policies and facilitate the flow of capital and carbon across borders.
"Malaysia is doing its part. Earlier this year, we passed the Carbon Capture, Utilisation and Storage Bill 2025 to provide a regulatory foundation for this emerging sector.
"Petronas is leading the charge with plans to develop three CCS hubs in our offshore waters, serving not just the oil and gas sector but also other hard-to-abate industries," he said.
Anwar added that Malaysia's CCS efforts involve more than 10 international partners, including Japan, South Korea, and global energy firms such as Total and Shell.
"Petronas is also working with ENEOS Corporation, Mitsubishi and JX Nippon to explore the transportation and storage of carbon dioxide from the Tokyo Bay area to Malaysia. This positions CCS not only as a vital decarbonisation tool but also as a promising new revenue stream for the region," he said.
The Energy Asia 2025 conference, with the theme "Delivering Asia's Energy Transition", taking place from June 16 to 18, is an opportune moment for Malaysia and the region to take stock of progress made towards energy transition objectives and reinforce national commitments to achieving net-zero goals.
The conference is timely, coming at a critical juncture in economic diversification and sustainable development as nations transition from traditional oil to renewable energy and embrace new technologies such as hydrogen and carbon capture.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
43 minutes ago
- Barnama
PETRONAS And TotalEnergies Expand Longstanding Upstream Collaboration
KUALA LUMPUR, June 17 (Bernama) -- PETRONAS and TotalEnergies have signed a Strategic Cooperation Agreement (SCA) and two Farm Out Agreements (FOAs) to broaden their upstream collaboration in Malaysia, while making progress on their international partnership under the Bobara Production Sharing Contract (PSC) in Indonesia. The agreements build on the longstanding partnership between the two companies, with the SCA outlining potential opportunities both internationally and domestically in strategic areas that cover exploration and production, gas and liquefied natural gas (LNG), carbon footprint reduction and cooperation.
Focus Malaysia
an hour ago
- Focus Malaysia
PAS could be wooing PKR's ‘splinter group' to make up numbers in July 26 'Turun Anwar' rally
WHETHER the upcoming Turun Anwar rally is manifestation of public anger at Prime Minister Datuk Seri Anwar Ibrahim as claimed by its organiser PAS Youth or otherwise, it cannot be denied that efforts are being directed at luring the disgruntled pro-Rafizi faction in PKR to make up the numbers. This is obvious as evident in an invitation extended to 'all Walaraf (slang for staunch followers of ousted PKR deputy president Datuk Seri Rafizi Ramli) and folks of Kampung Springfield (which is inspired from the fictional setting of American animated sitcom The Simpsons)'. Saya akan hadir. Ayuh semua! Walaraf & orang2 Kampung Springfield turut dijemput bersama 😝 — Siditious (@Solisidtor) June 16, 2025 Doubtlessly, numerous opposition-orchestrated anti-Anwar/Madani government rallies in recent times have met with lukewarm success with the latest being the Himpunan Melayu Berdaulat on May 24 to protest the proposed Urban Renewal Act (URA) on grounds that it threatens Malay demographics and marginalises low-income urban communities. However, attempts to capitalise on the growing frustrations of PKR grassroots loyalists amid claims of nepotism following the rise of the party president's eldest daughter Nurul Izzah Anwar as the second most powerful person in PKR – or amid allegations that the reformasi spirit is dead – remain a formidable task. 'One man at fault' As highlighted by pro-Rafizi influencer 𝖠𝖿𝗋𝖺𝗅'𝗌 (@AfralAbdullah), questions abound about PAS' sincerity and what are the offers on the table: Can PAS and its leadership be trusted? What are the risks to PH (Pakatan Harapan) if they also take shelter under the 'Big Umbrella' If there truly is a 'Big Umbrella,' can PAS undermine Anwar's position as PM from within by applying pressure or, worse, influencing Barisan Nasional (UMNO) to leave the PH-BN alliance, thus paving the way for the UMNO president to become PM? Ketua Pemuda PAS Afnan Hamimi Taib Azamudden berkata perancangan awal mengadakan perhimpunan bagi membantah cadangan kerajaan memperkenalkan Akta Pembaharuan Semula Bandar (URA) ditukar kepada himpunan 'Turun Anwar'. (N. Faizal Ghazali, Mkini) Timbul persoalan~ i) Bolehkah PAS… — 𝖠𝖿𝗋𝖺𝗅'𝗌 (@AfralAbdullah) June 15, 2025 Stating that the Turun Anwar rally slated for July 26 in Kuala Lumpur is not merely a protest against the URA per se, PAS information chief Fadhli Shaari contended that it carries a broader message on the urgent need to realign the country's direction which he claimed has veered off course under the Madani government. 'This rally stems from the awareness that the root cause of various national problems – from the failure of promised reforms, suppression of free speech, to the rising cost of living – all point to the failed leadership of one individual: Anwar Ibrahim,' he told PAS mouthpiece HarakahDaily. 'There are even voices among PH component party leaders who are starting to ask: if not Anwar, then who? Such questions reflect a lack of understanding or confusion about our country's administrative system. 'If the PM resigns, the Deputy PM can assume duties or the Yang di-Pertuan Agong may appoint any MP whom he believes commands the majority support. Are those asking this question implying that the current DPM is unfit to replace Anwar?' – June 17, 2025
New Straits Times
2 hours ago
- New Straits Times
Leaders wary of predicting oil prices
KUALA LUMPUR: Some chief executives of top energy companies, participating at a global energy conference here, are not about to make firm predictions on oil prices in light of Israel's attack on Iran. They said it was still too early to say what impact the fighting between Israel and Iran would pose on energy supplies. Participants at the three-day conference till Wednesday, were told that a staggering US$17.4 trillion investments were needed for the oil industry by 2050. Malaysia's national oil company Petronas, meanwhile, said heightened tensions around the Strait of Hormuz - a vital channel transporting 18 million to 19 million barrels of oil daily or about 20 per cent of global supply - had pushed oil prices higher in recent days. Petronas president and group chief executive officer Tengku Tan Sri Muhammad Taufik said the global energy system remains under pressure from retaliatory tariffs and geopolitical shocks. "This is despite some viewing the current surge in oil prices as the most significant since the 2022 energy crisis," he said in his opening address at Energy Asia 2025 conference. "A global energy system already strained by the natural evolution of civilisation is now truly in a precarious state, even though the actual impact of these events has yet to be fully measured." He said the 2022 energy crisis in Europe should have served as a wake-up call on how vulnerable the world's energy supply is to geopolitical shocks and climate risks. Tengku Muhammad Taufik also pointed to surging electricity demand, driven by the rapid expansion of artificial intelligence, especially in the data centre sector. "Electricity demand from data centres is projected to rise to 945 terawatt-hours by 2030, up from 415 terawatt-hours in 2024, more than double in just six years. "This situation demands urgent adaptation of the energy system and fresh infrastructure investment to meet growing demand. "Energy is a driver of human development. No technological revolution can occur without sufficient, efficient and accessible energy," he said. Meanwhile, speaking at the conference on Monday,Baker Hughes president and chief executive officer Lorenzo Simonelli told CNBC's "Squawk Box Asia" that "my experience has been, never try and predict what the price of oil is going to be, because there's one sure thing: You're going to be wrong." Simonelli said the last 96 hours "have been very fluid," and expressed hope that there would be a de-escalation in tensions in the region. "As we go forward, we'll obviously monitor the situation like everybody else is. It is moving very quickly, and we're going to anticipate the aspect of what's next," he added, saying that the company will take a wait-and-see approach for its projects. At the same conference, Meg O'Neill, CEO of Australian oil and gas giant Woodside Energy, told CNBC that the company is monitoring the impact of the conflict on markets around the world. She highlighted that forward prices were already experiencing "very significant" effects in light of the events of the past four days. If supplies through the Strait of Hormuz are affected, "that would have even more significant effects on prices, as customers around the world would be scrambling to meet their own energy needs," she added. Reuters reported that oil prices were volatile on Monday, after surging seven per cent on Friday, as renewed strikes by Israel and Iran over the weekend increased concerns that the conflict could widen across the Middle East and significantly disrupt oil exports from the region. Brent crude futures were up 33 cents, or 0.4 per cent, to US$74.56 a barrel by 0732 GMT, while US West Texas Intermediate crude futures gained 38 cents or 0.5 per cent, to US$73.36. They had surged more than US$4 a barrel earlier in the session and also fell into negative territory briefly. Speaking at the conference's ministerial plenary, Opec secretary general Haitham Al Ghais underscored the need for significant investment in the oil sector to ensure a reliable energy supply while meeting growing demand. "One of the key issues that I keep repeating, and Opec's position has been very clear upon, is investments. "Sustainability and continuous flow of investments in energy systems overall - and for us, particularly in oil - are critical," he said. He detailed that Opec forecasts US$17.4 trillion investment requirement for the oil industry by 2050, translating to about US$640 billion annually. "This investment spans the upstream, downstream, and midstream sectors, which must be viewed as an integrated value chain," he added. Despite global momentum toward renewables, Haitham highlighted that oil remains indispensable to daily life, representing 30 per cent of the global energy mix.
