Singapore signed a letter of intent with Indonesia in a groundbreaking move. This agreement focuses on cross-border carbon dioxide capture and storage (CCS). The announcement came on Thursday, following a new Indonesian law that facilitates such ventures.
Indonesia, aiming to boost its natural gas sector and CCS for cleaner fuel, recently allowed CCS projects to store imported carbon dioxide. Up to 30% of their capacity can be used for this purpose.
"This is a major step for sustainable development," said Jodi Mahardi, from Indonesia's energy ministry. Critics argue CCS is costly and untested. Yet, Indonesia sees itself as a future CO2 storage leader.
The two countries plan to establish a working group. Their goal is to negotiate a binding agreement on CO2 transport and storage across their borders.
Indonesia boasts over 400 gigatonnes of CO2 storage potential in old reservoirs and aquifers. The country is preparing 15 CCS projects, worth nearly $8 billion.
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theatre actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
Business & Policies ,
Indonesia-Singapore Pact on Carbon Storage
by : Samira Tasneem | Published: February 25, 2024
Singapore and Indonesia sign a landmark intent for cross-border carbon capture and storage collaboration.
Singapore signed a letter of intent with Indonesia in a groundbreaking move. This agreement focuses on cross-border carbon dioxide capture and storage (CCS). The announcement came on Thursday, following a new Indonesian law that facilitates such ventures.
Indonesia, aiming to boost its natural gas sector and CCS for cleaner fuel, recently allowed CCS projects to store imported carbon dioxide. Up to 30% of their capacity can be used for this purpose.
The two countries plan to establish a working group. Their goal is to negotiate a binding agreement on CO2 transport and storage across their borders.
Indonesia boasts over 400 gigatonnes of CO2 storage potential in old reservoirs and aquifers. The country is preparing 15 CCS projects, worth nearly $8 billion.
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Samira Tasneem
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theatre actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
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