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Friday, 16 February 2024 16:18

Indonesia and Singapore Sign CCS Cross Border Cooperation Agreement

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Deputy Secretary (Industry) of the Singapore Ministry of Trade and Industry, Keith Tan, and the Deputy for Maritime Sovereignty and Energy of the Coordinating Ministry for Maritime Affairs and Investment, Jodi Mahardi pose after signing letter of intent (Photo : Kemenkomarves) - 

 

 

Voinews, Jakarta - Indonesia and Singapore have signed a Letter of Intent (LOI) to collaborate in Cross Border Carbon Capture and Storage (CCS) activities. This agreement was signed by the Deputy Secretary (Industry) of the Singapore Ministry of Trade and Industry, Keith Tan, and the Deputy for Maritime Sovereignty and Energy of the Coordinating Ministry for Maritime Affairs and Investment, Jodi Mahardi.

This agreement is based on Presidential Regulation no. 14 of 2024 concerning the Implementation of Carbon Capture and Storage Activities, which provides access to carbon storage operators to provide international carbon storage capacity.

CCS is the activity of capturing, transporting and storing carbon dioxide, to prevent carbon emissions from being released into the atmosphere. CCS is a decarbonization method that is suitable for industries whose emissions are difficult to reduce, such as the energy sector, chemical industry and power plants. CCS is internationally recognized as an important decarbonization method for achieving global climate change mitigation.

Both institutions, the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA), recognize the important role of CCS in achieving net zero emissions by the middle of this century and reducing the effects of global warming.

According to a release received by Voice of Indonesia on Friday (16/02/24), in the LOI, Indonesia and Singapore emphasized the importance of CCS as a decarbonization method, and the potential of CCS to support sustainable industrial activities and create new economic opportunities.

A working group consisting of Singaporean and Indonesian government officials will work together on a legally binding bilateral agreement to allow cross-border transport and storage of carbon dioxide between Singapore and Indonesia.

Deputy Secretary (Industry) of Singapore's Ministry of Trade and Industry, Keith Tan, stated, "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 the presidential regulation that includes cross border CCS was announced. With this LOI, Singapore and Indonesia can become pioneers in accelerating the implementation of cross border CCS projects in Southeast Asia," he said.

Deputy for Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs and Investment, Jodi Mahardi, stated, "This collaboration with Singapore not only increases Indonesia's commitment to leading environmental responsibility in this region, but also shows our proactive approach in utilizing innovative technology for sustainable growth "This initiative positions Indonesia as a key player in the Southeast Asian CCS landscape by introducing a mode of environmental cooperation between countries," he said//VOI

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