Credit Line for PETRONAS under GREEN Operations
Promoting Malaysia’s Decarbonization and Creating Business Opportunities for Japanese Companies

• Region: Asia
• Infrastructures
• Environment
• Untied Loans

1. The Japan Bank for International Cooperation (JBIC; Governor: AMAKAWA Kazuhiko) signed today a general agreement with Petroliam Nasional Berhad (PETRONAS), Malaysia’s national oil company, to set up a credit line, amounting to up to USD600 million, of which JBIC's portion is USD360 million, on the occasion of the second Malaysia–Japan CCS Dialogue.
     
2. The credit line is intended to support decarbonization- and energy transition-related projects implemented by PETRONAS or its subsidiaries in Malaysia and other countries under JBIC’s Global Action for Reconciling Economic Growth and ENvironmental Preservation (GREEN) operations^*1.
     
3. The Government of Malaysia has set a target of achieving net-zero greenhouse gas (GHG) emissions by 2050 and is promoting decarbonization in its priority areas such as carbon capture, utilization and storage (CCUS)^*2; bioenergy; and energy efficiency, as outlined in the National Energy Transition Roadmap (NETR) released in 2023. Malaysia is also an important partner country in the Asia Zero Emission Community (AZEC), an initiative proposed by the Government of Japan. At the Japan–Malaysia summit meeting in June 2026, these two governments confirmed their commitment to advancing cooperation in the decarbonization sector through AZEC initiatives. In addition, taking the current situation in the Middle East into account, they aim to strengthen resilience in supply chains for energy and other resources under the Partnership On Wide Energy and Resources Resilience Asia (POWERR Asia), launched by the Government of Japan.
     
4. PETRONAS, Malaysia’s national oil company, is a global energy and solutions partner with presence in over 100 countries. The company has declared its commitment to achieving net zero carbon emissions by 2050. To this end, it is continuing to expand its portfolio to offer integrated solutions across conventional and cleaner energy. JBIC and PETRONAS signed a memorandum of understanding that supports AZEC initiative to strengthen cooperation in sectors such as renewable energy, carbon capture and storage (CCS)^*3, and bio based value chain to promote collaboration in decarbonization and energy transition^*4.
     
5. The credit line will financially support PETRONAS’s decarbonization- and energy transition-related projects and generate future opportunities for business collaboration with Japanese companies. As a result, it will help expand business opportunities for Japanese companies and realize a decarbonized society pursued by both Japan and Malaysia, thereby contributing toward the diversification of energy sources and the upgrading of industries across Asia.
     
6. As Japan’s policy-based financial institution, JBIC will continue to provide financial support to create business opportunities and promote business for Japanese companies in a variety of sectors and will work closely with foreign governments and governmental agencies to address global climate change and resolve social issues.
     

Note

1. *1 
   See Announcement on July 2, 2018. 
2. *2 
   Carbon dioxide Capture, Utilization and Storage (CCUS) is a technology that separates, captures, and stores carbon dioxide that would become a greenhouse gas, and utilizes it.
3. *3 
   Carbon dioxide Capture and Storage (CCS) is a technology that separates and captures carbon dioxide that would become a greenhouse gas, and stores it in deep waterbeds or geological formations.
4. *4 
   In October 2025, JBIC renewed the memorandum of understanding signed with PETRONAS in September 2022. See Press Release on October 3, 2025.