Key factors shaping energy transition strategies of asia’s national oil and gas companies

  • Dao Minh Phuong
  • Pham Ba Nam
  • Nghiem Thi Ngoan
  • Duong Minh Tri
Keywords: Energy transition, national oil and gas companies, Asia

Abstract

In the trend of energy transition, the world’s major oil and gas companies are shifting their investments from oil and gas to renewable energy to fulfil commitments for a “low carbon” or “lower carbon” future. While maintaining their traditional activities, national oil and gas companies (NOCs) have begun to set specific low-carbon targets and invested in renewable energy. The article analyses the key factors shaping the energy transition and climate change mitigation strategies of NOCs in Asia such as Petronas, Pertamina and PTT.

References

IHS Market, "Upstream transformation: Redefining upstream for the low carbon future", 2021.

IHS Market, "What is the oil industry's path to a lowcarbon future?", 2021.

IHS Market, "Asian NOCs and the energy transition", 2021.

Greig Aitken, "The UK's dirty coal secret," 2019. [Online]. Available: https://www.banktrack.org/download/the_uks_dirty_coal_secret/the_uks_dirty_coal_secret_report.pdf.

ADB, "ADB Energy Policy and Program, 2009 - 2019," 2020. [Online]. Available: https://www.adb.org/sites/default/files/evaluation-document/518686/files/swe-energy-policy-and-program.pdf.

Subethira Ahrumugam, "Malaysia’s Petronas eyes net-zero emissions by 2050", 3/11/2020. [Online]. Available: https://www.argusmedia.com/en/news/2156145-malaysias-petronas-eyes-netzero-emissions-by-2050.

Petronas, "PETRONAS Integrated Report 2020," 2020. [Online]. Available: https://www.petronas.com/integrated-report/files/PETRONAS-IR20-Integrated- Report-2020.pdf.

Petronas, "Petronas annual report 2019", 2019. [Online]. Available: https://www.petronas.com/sites/default/files/Media/PETRONAS-Annual%20Report-2019-v2.pdf.

Petronas, "About new energy". [Online]. Available: https://www.petronas.com/our-business/gasand-new-energy/about-new-energy.

The EDGE Markets, “Petronas Dagangan, Shell among fuel companies upgrade facilities B30 biodiesel plan”, 21/11/2019. [Online]. Available: https://www.theedgemarkets.com/article/petronas-dagangan-shellamong-fuel-companies-upgrade-facilities-b30-biodieselplan.

Trần Thị Liên Phương và Trần Linh Chi, "Chiến lược tăng trưởng liên tục và bền vững của Petronas", Tạp chí Dầu khí, Số 7, trang 42 - 48, 2020.

Pertamina, "Climate change strategies”. [Online]. Available: https://www.pertamina.com/en/climatechange-

strategies.

Euro, “Pertamina: Developing LNG infrastructure for cilacap refinery pertamina group strengthens national

energy independence”, 28/5/2021. [Online]. Available: https://www.euro-petrole.com/pertamina-developinglng-infrastructure-for-cilacap-refinery-pertamina-groupstrengthens-national-energy-independence-n-i-22294.

Pertamina Power Indonesia, "Badak 4 MW solar power plant". [Online]. Available: https://pertaminapower.com/badak-4-mw-solar-power-plant.

Pertamina, “Pursuing 1.1 giga watt target pertamina geothermal energy operates 15 work areas”, 10/3/2021. [Online]. Available: https://www.pertamina.com/en/news-room/news-release/pursuing-1.1-gigawatt-target-pertamina-geothermal-energy-operates-15-work-areas.

Pertamina, “PNRE bangun PLTBg di Sei mangkei”, 13/10/2020. [Online]. Available: https://www.pertamina.

com/id/news-room/energia-news/pnre-bangun-pltbgdi-sei-mangkei.

Hoàng Thị Đào, "Chiến lược phát triển của Pertamina, kế hoạch đến 2025", Tạp chí Dầu khí, Số 7, trang 33 - 41, 2020.

Pertamina Renewable Spirit, "Pertamina initiatives to reduce green house gas emissions". [Online]. Available: https://unitar.org/sites/default/files/Presentation_TP.%20Pasaribu.pdf.

IDN Financials, “Pertamina explores CCS technology development reduce carbon emission”, 17/5/2021. [Online]. Available: https://www.idnfinancials.com/news/39111/pertamina-explores-ccstechnologydevelopment-reduce-carbon-emission.

My Pertamina, “APA ITU Mypertamina?”. [Online]. Available: https://mypertamina.id/about-us/.

IDN Financials, “Pertamina continues SPBU digitisation program”, 19/1/2021. [Online]. Available: https://www.idnfinancials.com/news/37790/pertaminacontinues-spbu-digitisation-program.

Pertamina, "Increasing operational reliability pertamina strengthens digitalization of upstream to downstream sectors", 21/8/2021. [Online]. Available: https://www.pertamina.com/en/news-room/newsrelease/increasing-operational-reliability-pertaminastrengthens-digitalization-of-upstream-to-downstreamsectors.

PTT, "Annual report", 2019.

GPSC, “PTT group unveiled a 100 Kw floating solar”, 6/10/2020. [Online]. Available: https://www.gpscgroup.com/en/news/pr/1143/ptt-group-unveiled-a-100-kw-floating-solar.

Renewables Now, “Thailand PTT to develop wind projects report”, 15/6/2010. [Online]. Available: https://renewablesnow.com/news/thailand-ptt-to-developwind-projects-report-74847/.

PTT, "Sustainable report", 2019.

PTT Global Chemical, "Emissions reduction programs". [Online]. Available: https://sustainability.pttgcgroup.com/en/environment/air-quality/emissionsreduction-programs.

ADB, "Prospects for carbon capture and storage in Southest Asia", 2013. [Online]. Available: https://www.

adb.org/sites/default/files/publication/31122/carboncapture-storage-southeast-asia.pdf.

PTT, "Sustainable growth for all PTT reforestation stories". [Online]. Available: https://www.pttplc.com/en/Sustainablegrowthforall/Planet/Planet.aspx.

Konrad Adenauer Stiftung, "Sustainable energy and digitalisation: Practices and Perspectives in Asia-Pacific". [Online]. Available: https://www.kas.de/documents/265079/265128/Sustainable+Energy+and+Digitalisation+Practices+and+Perspectives+in+Asia+Pacific.pdf.

Smart Energy Portal, “PTT and Energy Web Foundation launch blockchain-based renewables platform for Thailand, ASEAN, Japan”, 14/10/2019. [Online]. Available: https://www.smartenergyportal.ch/ptt-and-energy-web-foundation-launch-blockchainbased-renewables-platform-for-thailand-asean-japan/.

Gavin Thompson, "How Asia’s NOCs can learn to stop worrying and love the energy transition", 28/1/2020. [Online]. Available: https://www.woodmac.com/news/opinion/how-asias-nocs-can-learn-to-stop-worrying-andlove-the-energy-transition/.

Published
2021-09-30
How to Cite
Phuong, D. M., Nam, P. B., Ngoan, N. T., & Tri, D. M. (2021). Key factors shaping energy transition strategies of asia’s national oil and gas companies. Petrovietnam Journal, 9, 24-32. https://doi.org/10.47800/PVJ.2021.09-03
Section
Articles

Most read articles by the same author(s)