- VIVA.co.id/Mohammad Yudha Prasetya
Jakarta – Indonesia and Singapore have signed a Letter of Intent (LOI) to cooperate in Cross Border Carbon Capture and Storage (CCS) activities.
"This initiative positions Indonesia as a key player in the Southeast Asian CCS landscape by introducing the cross-border environmental cooperation model," Deputy for Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs and Investment Jodi Mahardi stated on Thursday.
Mahardi remarked that by cooperating with Singapore, Indonesia demonstrates its commitment to leading environmental responsibility in the Southeast Asian region.
He believes that this cooperation also reflects Indonesia's proactive approach to utilizing innovative technology for sustainable growth.
- VIVA.co.id/Mohammad Yudha Prasetya
Deputy Secretary (Industry) of the Singaporean Ministry of Trade and Industry, Keith Tan, stated that the cross-border CCS is an emerging solution in Asia.
According to Tan, CCS supports Singapore's transition to a low-carbon future.
"Singapore is the first country to sign an LOI with Indonesia after its presidential regulation on cross-border CCS was announced," he remarked.
With this LOI, he affirmed that Singapore and Indonesia can be pioneers in accelerating the implementation of cross-border CCS projects in Southeast Asia.
Under the LOI, Indonesia and Singapore affirm the importance of CCS as a decarbonization method.
The two countries in the LOI also highlight the potential of CCS to support sustainable industrial activities and create new economic opportunities.
Furthermore, a working group comprising Singapore and Indonesian government officials will work together to form a legally binding bilateral agreement. The agreement will enable cross-border transportation and storage of carbon dioxide between Singapore and Indonesia.
This agreement was formed based on Indonesia's Presidential Regulation No. 14 of 2024 concerning the Implementation of Carbon Capture and Storage Activities.
The regulation allows carbon storage operators to provide international carbon storage.
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