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Executive Column: Time to seize carbon capture potential, ANGEA says
Paul Everingham, CEO of Asia Natural Gas and Energy Association (ANGEA), which represents natural gas and energy producers, buyers, suppliers and companies across Asia, spoke to The Jakarta Post’s Divya Karyza on Aug. 2 about the race between Indonesia, Malaysia and Australia to become a carbon capture and storage (CCS) hub in the Asia-Pacific region.
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Paul Everingham, CEO of Asia Natural Gas and Energy Association (ANGEA) (ANGEA/-)
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em>Indonesia could play a significant role for carbon dioxide (CO2) storage in Asia. The country has a potential CO2 storage capacity of 12.2 billion tonnes in depleted oil and gas reservoirs and saline aquifers, according to the Research and Development Center for Oil and Gas (Lemigas).
Southeast Asia’s largest economy is projected to receive 80 percent of the carbon capture, utilization and storage (CCUS) investment in the region by 2030, but as more countries develop their CCUS capacity, that share is projected to decline to about 60 percent by 2040, according to the International Energy Association (IEA).
Paul Everingham, CEO of Asia Natural Gas and Energy Association (ANGEA), which represents natural gas and energy producers, buyers, suppliers and companies across Asia, spoke to The Jakarta Post’s Divya Karyza on Aug. 2 about the race between Indonesia, Malaysia and Australia to become a carbon capture and storage (CCS) hub in the Asia-Pacific region.
Question: What is ANGEA’s experience regarding energy policy in Indonesia?
Answer: ANGEA represents about 15 big global companies that have energy assets throughout the Asia-Pacific region. Some of them have been in Indonesia for a hundred years, like Chevron. Indonesia already has a diverse portfolio of energy assets, but I want to stress that diversification is key. Not just from different energy sources but also from different countries, suppliers and different lengths of contract.
The other thing is to have in place stable financial, tax and economic settings, so that when companies invest, they can invest with certainty. Then, they’ll stay for the long term.
