RI Opens Cross-Border Transaction Opportunities on Carbon Storage

By Editorial Team 23/01/2024
carbon trading
Summary

The Indonesian government is finalizing the presidential regulation on Carbon Capture and Storage (CCS) and Carbon Capture and Utilization Storage (CCUS). Tutuka Ariadji, the Energy and Mineral Resources Ministry's Director General of Oil and Natural Gas, stated that the regulation is expected to be issued soon. "If not this month [January], then next month [February]," he said, as quoted on Jan 18.

According to Tutuka, the regulation represents an expansion of Ministerial Regulation No. 2/2023 on implementing CCS and CCUS in Upstream Oil and Gas Activities. With this new regulation, Indonesia aims to engage in cross-border carbon dioxide activities or international carbon trading. "For example, if a contractor has a partner with significant CO2 production but lacks space for injection, it can be brought to Indonesia," he added.

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