Page 386 - Westport Guide To Malaysia

378 USEFUL INFORMATION
by 2033 and will be replaced mostly by gas and RE. This will help
the country to meet its Nationally Determined Contributions (NDC) targets presented at the 26th United Nations Climate Change Conference (COP26), which enables the implementation of
the Paris Agreement to bring down the carbon emissions intensity
from the power sector
by 45 per cent in 2030, compared to 2005 levels.
Twelfth Malaysia Plan (RMK-12)
The RMK-12 was announced at an opportune time as the nation recovers from
the COVID-19 pandemic. Setting a strategic direction for Malaysia’s development for the period 2021 to 2025, it aims to address current issues with strategic directions to achieve a sustainable economy focusing on rejuvenating economic growth; ensuring prosperity is distributed more fairly
and equitably; and maintaining environmental sustainability.
With the objective of achieving a “Prosperous, Inclusive and Sustainable Malaysia”, the third focus of RMK-12 accelerates the nation’s progress in moving towards a low-carbon nation, safeguarding
natural endowments,
and increasing resilience against climate change. The green growth will be strengthened by a robust enabling environment and supported by a mindset change as well as behavioural shift.
In addition, energy sustainability will be further enhanced by ensuring adequate supply of energy resources and related infrastructure, while RE as an alternative energy source will be augmented to complement energy efficiency measures.
In moving towards a low-carbon nation which will address the energy trilemma of balancing energy security, energy equity and environmental sustainability, the industry will need to be prepared for and support RMK-
12. It is imperative to relook the business
model and mindset shift
as energy transition is accelerating players to fast-track and step-out.
Malaysia’s Energy Players
PETRONAS is the custodian of Malaysia’s national oil and gas resources as well as
a global energy and solutions partner. As Malaysia’s fully integrated petroleum corporation,
the PETRONAS Group explores, produces and delivers energy to meet society’s growing needs through its core businesses.
Gas Malaysia Berhad
Gas Malaysia Berhad,
a member of MMC Corporation Berhad, was established on 16th May, 1992 to sell, market and distribute natural gas
as well as to construct, operate and maintain the Natural Gas Distribution System (NGDS) within Peninsular Malaysia.
In good or bad weather conditions and with meter-high waves, offshore facilities operate around-the-clock to ensure uninterrupted production of oil and gas. The photo shows one of PETRONAS’s facilities in the Betty-Bokor fields, offshore Sarawak, interconnected with pipelines.