Minister of Maritime Affairs and Investment recognizes the promising potential of carbon capture and storage (CCS) technology development business in Indonesia. Indonesia is known to have a significant capacity for carbon dioxide (CO2) storage, up to 400 gigatons of CO2 in existing oil and gas wells. CCS technology is considered vital as a solution to reduce CO2 emissions and serves as an investment opportunity for low-carbon businesses. The Indonesian government is committed to climate change by targeting a 31.89% reduction in greenhouse gas emissions (GHG) by 2030. The future of decarbonization must align with environmental sustainability and green economic growth. The Minister also encourages investment and technology cooperation in CCS within the country. With the existence of carbon pricing and it’s management framework, the inclusion of CCS technology in the business sector will generate substantial revenue for Indonesia.
However, there are also challenges faced in carbon injection projects, such as the East Natuna Gas Field, which has encountered geographical obstacles and has faced developmental setbacks. Meanwhile, the Executive Director of Indonesia Carbon Capture and Storage (ICCS), highlighted the significant potential of the CCS technology business that can be offered to investors, as CO2 emissions in Indonesia can be stored using CCS for up to 50 years. ICCS advocates for Indonesia to become a CCS hub, connecting various CO2 sources to injection locations nationwide, as if Indonesia becomes CCS Hub, it would create new job opportunities and drive green investments in the country.
