Malaysia to benefit from Hydrogen Economy and Technology Roadmap
07 Jun 2023
Malaysia will be well positioned to profit from the global green hydrogen market, which is forecast to reach US$189.19 billion (RM824 billion) by 2050, through the implementation of the Hydrogen Economy and Technology Roadmap (HETR).
Prime Minister Datuk Seri Anwar Ibrahim said that of the forecast amount, the market value for Malaysia would be US$3.1 billion or 2% by 2030.
“The HETR implementation is expected to generate up to RM12.1 billion in revenue with an estimated contribution of between RM49 billion and RM61 billion to gross domestic product by 2030.
“Besides, HETR will also be able to provide many socioeconomic benefits to the country by generating up to 45,000 job opportunities over the same period,” he said in his speech after chairing the National Science Council’s first meeting of the year here today.
The text of his speech was read out to the media by Science, Technology and Innovation Minister Chang Lih Kang.
Anwar, who is also finance minister, said HETR supports the country’s Low Carbon Nation Aspiration 2040 under the National Energy Policy 2022-2040, and Malaysia is expected to achieve a 0.4% to 1.3% reduction in greenhouse gas emissions by 2030 based on the proposed HETR implementation model.
Five strategic thrusts have been outlined to develop a hydrogen ecosystem that is solid and competitive along the value chain in order to achieve the vision of making Malaysia a hydrogen economy leader by 2050.
Anwar said the capacity-building and high technology drive under HETR is aimed at producing hydrogen at a competitive cost for domestic use to achieve the national energy transition target and for export purposes.
He said a comprehensive ecosystem will be created to stimulate industry capacity-building, apart from through the active involvement of the private sector and academicians.
Anwar noted that Petroliam Nasional Bhd and Sarawak Energy Bhd have collaborated for the commercial production of green hydrogen and exploration of the supply value chain in Asia to meet the global demand for clean energy.
Source: Bernama
