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Singapore looks to transport carbon dioxide to RI
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An Elnusa employee repairs an offshore oil and gas rig. The publicly listed company is majority-owned by state oil and gas giant Pertamina. (Pertamina/Pertamina)
Singapore has become the first country to embark on a cross-border collaboration on carbon capture and storage (CCS) with Indonesia.
Singapore on Thursday signed a letter of intent (LOI) marking both countries’ commitment to forming a working group to seek a legally binding bilateral agreement on the cross-border transportation and storage of carbon dioxide (CO2) between the neighboring countries, read a joint statement issued on Thursday.
The agreement marked “a significant milestone in our efforts toward sustainable development and environmental stewardship,” Jodi Mahardi, undersecretary for maritime sovereignty and energy coordination at Indonesia’s Office of the Coordinating Maritime Affairs and Investment Minister, said in a statement issued on Thursday.
Indonesia is exploring ways to make the country a regional CCS hub, banking on its huge potential of depleted hydrocarbon reservoirs and saline aquifers.
Southeast Asia’s largest economy, which aims to develop its upstream natural gas sector and CCS as part of the global transition to cleaner energy, issued a presidential regulation last month allowing CCS operators to allocate 30 percent of their storage capacity for imported CO2.
Read also: Analysts, businesses cast doubt on Indonesian cross-border CCS
“Cross-border carbon capture and storage is a growing solution in Asia and supports Singapore's transition to a low-carbon future. Singapore is the first country to sign an LOI with Indonesia after its presidential regulation including cross-border CCS was announced,” Keith Tan, industry deputy secretary of Singapore’s Trade and Industry Ministry, said in the statement.
