Indonesia, South Korea Explore Partnership on Carbon Capture Development
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29 November 2023 13:23 WIB
TEMPO.CO, Jakarta - Indonesia through the Ministry of Energy and Mineral Resources (EMR) is exploring a partnership with South Korea to develop carbon capture and storage/carbon capture, utilization, and storage (CCS/CCUS).
The government has been using the technology in its gas and oil industry to achieve the net zero emissions (NZE) target by 2060 or sooner. "We are targeting emissions reduction by 231.2 million tons of CO2e in 2025, 388 million tons of CO2e by 2030, and 1,043.8 million tons of CO2e by 2050," said the Oil and Gas DG at the EMR Ministry Tutuka Ariadhi in a written statement on Tuesday, November 28, 2023.
CCS/CCUS technology could be defined as a technology based on carbon dioxide emitted from burning fossil or waste that was captured and stored in the soil.
According to Tutuka, Indonesia is looking to implement CCS/CCUS technology in fifteen ongoing project development spread across Sumatra to Papua. "Most of these projects are targeted to be onstream by 2030," he said.
Furthermore, Tutuka said that the investment value of this technology is estimated to reach US$7.97 billion. Thus the government is open to discussing this matter with South Korean delegations to cooperate in regard to CCS/CCUS or transboundary carbon agreements.
About the regulation, Tutuka said, the government has adopted EMR Minister Regulation No. 2 of 2023 on the implementation of CCS/CCUS by oil and gas companies. The regulation consisted of provisions on carbon capture, transport, injections, storage, and utilization.
Indonesia also plans to release another regulation related to this technology to implement CCS outside of oil and gas activities. According to Tutuka, the bill will regulate the license to explore and store carbon.
"Meanwhile, the requirement for cross-border transfer of CO2 will be provided under government-to-government cooperation bound in an international agreement before being implemented business-to-business by cross-nation corporations," he concluded.
RIRI RAHAYU
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