Asia-Pacific needs US$90 tril in energy investments to meet net zero goals by 2050, says Petronas chief

Monday 05 Oct 2026

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KUALA LUMPUR (June 16): Asia-Pacific will require US$90 trillion (RM382.1 trillion) in energy investments through 2050 to power its growing economies, while achieving net zero ambitions, said Petroliam Nasional Bhd (Petronas) president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz.

Taufik said that the region stands at a critical crossroad amid a polycrisis of escalating geopolitical tensions, volatile energy markets, and intensifying climate threats.

“To address Asia’s growth ambitions, even as it aims to achieve net zero, around US$90 trillion just for this region in energy investment will be needed until 2050,” he said at the Energy Asia 2025 conference here on Monday.

He stressed that without urgent, coordinated investments in both conventional and renewable energy systems, Asia’s energy security and its climate targets could be at risk.

Tengku Taufik noted that Asia-Pacific, home to 60% of the world’s population and three of the five largest economies, will account for half of global energy demand until 2050. Yet, the region remains deeply unequal, with some economies boasting gross domestic product (GDP) per capita exceeding US$90,000, while others still struggle below US$1,200, with 150 million people lacking access to electricity altogether.

“While this region sees growing investment in renewable energy projects, fossil fuels still address their needs and this accounts for more than 80% of the region’s energy mix,” he said.

Additionally, the region’s growing population and rapid artificial intelligence (AI)-driven industrialisation will drive energy demand to make up half of global consumption by 2050, with data centres doubling their usage to 945 terawatt-hours by 2030, accounting for over 20% of global demand growth during this period.

He urged governments, financiers and industries to unlock more capital for energy projects, especially for emerging and developing markets, where investment gaps remain widest.

“Energy is the lifeblood of economies. Investments will be critical to ensure energy availability and affordability. With demand already outpacing supply right now, we must do so more urgently than ever,” he said.

Edited ByJenny Ng

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