JAKARTA, Nov 15, 2022 – (ACN Newswire) – Pertamina and ExxonMobil have signed a cooperation agreement for developing carbon capture and storage (CCS) for cutting carbon emissions while supporting economic growth.
|Pertamina and ExxonMobil have signed a cooperation agreement for developing carbon capture and storage (CCS) as part of efforts to reduce carbon emissions while supporting economic growth. (ANTARA/Pertamina)|
“This collective agreement is a solid foundation for Indonesia to achieve Indonesia’s net-zero target by 2060 or sooner,” Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said on Monday.
The Indonesian government is working on developing regulations that support carbon capture and storage (CCS) and starting discussions with governments in other regions, he added.
Meanwhile, Pertamina’s CEO and president director, Nicke Widyawati, said that the CCS development and decarbonization cooperation is in line with Pertamina’s efforts to support the government’s program to accelerate the energy transition and achieve the target of reducing emissions by 29 percent by 2030.
“The development of CCS technology is in line with Pertamina’s commitment to implementing Environmental, Social, and Governance (ESG) in all lines of the company’s business to encourage business sustainability in the future,” she added.
The fastest way to ensure the transition to new renewable energy and decarbonization in Indonesia is through partnerships, she emphasized. This is to answer the three global challenges, namely technology, finance, and human capital, at once.
According to Widyawati, the application of CCS technology is expected to play an important role in reducing greenhouse gases in the atmosphere, which contribute to global warming, climate change, ocean acidification, and loss of biodiversity.
“The development of CCS technology has a double impact, in addition to reducing emissions while increasing national oil and gas production,” she said.