The Government of Malaysia has announced a RM43 billion investment by Tenaga Nasional to modernise the national grid, aiming to support the country’s growing AI and battery energy storage ambitions. Speaking at the Energy Asia conference on June 16, Anwar also highlighted Petronas’ plans to develop three offshore carbon capture and storage (CCS) hubs in collaboration with over 10 international partners, including Japan’s Eneos, Mitsubishi, and JX Nippon, as well as global energy majors Shell and TotalEnergies.
Malaysia is positioning itself as a regional data centre and AI hub, with major investments from firms like Microsoft, Google, Amazon, Nvidia, and Oracle. Petronas is aligning its strategy with this trend, preparing to support AI-driven energy demands and leveraging CCS as both a decarbonization solution and a future revenue stream.