Petronas, alongside leading energy companies in Southeast Asia, has unveiled a collaborative effort to reduce methane emissions as part of a progressive and inclusive energy transition. This initiative, announced at COP29, aims to balance environmental sustainability with economic and social priorities, reflecting a commitment to a just energy transition.

Key players such as Pertamina (Indonesia), PTT (Thailand), and Singapore LNG Corporation have joined the effort under the umbrella of ASCOPE (ASEAN Council on Petroleum). Together, they emphasize the need for methane emissions reduction in alignment with the Paris Agreement goals, tailored to the region’s unique challenges and opportunities.

Comprehensive Goals and Timeline

The joint declaration outlines ambitious targets:

1. Establishing a methane emissions baseline for the oil and gas sector in Southeast Asia by 2025.
2. Setting quantifiable reduction targets for 2030, informed by internationally recognized practices.
3. Advocating for advanced methane monitoring, measurement, reporting, and verification systems across the region.

These efforts build on the Methane Leadership Program 2.0 (MLP 2.0), a framework designed to foster collaboration among governments, companies, and global stakeholders. Partners include the Environmental Defense Fund, JOGMEC (Japan Organization for Metals and Energy Security), and UNEP's International Methane Emissions Observatory.

Regional Leadership and Collaboration

Petronas plays a pivotal role, leveraging its net-zero carbon pathway and its achievement of the OGMP 2.0 Gold Standard. The company’s collaboration with JOGMEC will establish the Southeast Asia Methane Emissions Technology Evaluation Center (METEC) in Malaysia. This center will pioneer innovations in emissions management and support the region’s decarbonization goals.

Through ASCOPE, the initiative promotes knowledge sharing and progress tracking, encouraging broader participation from regional energy players. The ultimate aim is to position Southeast Asia as a leader in methane reduction and climate resilience.

Industry-Wide Call to Action

The coalition invites peers across Southeast Asia’s energy ecosystem to join the initiative. By fostering collaboration and innovation, the region can lead global efforts to address methane emissions—a critical step in combating climate change.

This united effort underscores the region’s commitment to sustainable energy while safeguarding economic growth and societal well-being.