Jakarta (ANTARA) – Indonesia and Singapore have signed a letter of intent (LOI) to establish cooperation in cross-border carbon capture and storage (CCS) to achieve net-zero emissions by 2050.
“This initiative positions Indonesia as a key player in Southeast Asia’s CCS landscape by introducing a cross-border environmental cooperation model,” Jodi Mahaldi, deputy director for maritime sovereignty and energy at the Ministry of Maritime Affairs and Investment Coordination, said on Thursday. mentioned here.
Mr Mahaldi said that by working with Singapore, Indonesia is demonstrating its commitment to leading in environmental responsibility in the Southeast Asia region.
He believes that this cooperation reflects Indonesia’s proactive approach to leveraging innovative technologies for sustainable growth.
Keith Tan, Deputy Secretary-General for Industry at Singapore’s Ministry of Trade and Industry, said cross-border CCS is a new solution in Asia.
According to Mr Tan, CCS supports Singapore’s transition to a low-carbon future.
“Singapore is the first country to sign an LOI with Indonesia after the presidential regulation on cross-border CCS was announced,” he said.
He confirmed that with this LOI, Singapore and Indonesia can become pioneers in accelerating the implementation of cross-border CCS projects in Southeast Asia.
Based on the LOI, Indonesia and Singapore affirm the importance of CCS as a decarbonization method.
The two countries participating in the LOI also highlight the potential of CCS to support sustainable industrial activities and create new economic opportunities.
Additionally, a working group comprising government officials from Singapore and Indonesia will work together to form a legally binding bilateral agreement. The agreement will enable cross-border transport and storage of carbon dioxide between Singapore and Indonesia.
This agreement was formed based on the Indonesian Presidential Regulation No. 14 of 2024 on the implementation of carbon capture and storage activities. This regulation will enable carbon storage operators to offer international carbon storage.
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