Singapore, Indonesia bolster cooperation in cross-border carbon capture storage

Deputy Secretary (Industry) of Singapore's Ministry of Trade and Industry Keith Tan (left) and Indonesia Deputy Coordinating Minister for Maritime Sovereignty and Energy Jodi Mahardi sign a Letter of Intent to collaborate on carbon capture and storage. (Photo courtesy of Singapore's Ministry of Trade and Industry)

Singapore (VNA) –  Singapore and Indonesia on February 15 signed a letter of intent (LOI) to establish cooperation in cross-border Carbon Capture and Storage (CCS) to achieve net zero emissions by 2050.

Under the document, Singapore is the first country to sign an LOI with Indonesia since Indonesia announced its presidential regulation on CCS on 30 January, which will allow CCS operators to set aside storage capacity for international carbon dioxide.

With the LOI, the two countries affirmed the importance of CCS as a decarbonisation pathway, and the potential of CCS to enable sustainable industrial activities and generate new economic opportunities. A working group comprising Singapore and Indonesia government officials will work towards a legally binding bilateral agreement that will enable the cross-border transport and storage of carbon dioxide between the two countries.

CCS is the process of capturing, transporting, and storing the carbon dioxide that is produced as a byproduct from other activities, such as power generation. It provides a pathway to decarbonise emissions from hard-to-abate sectors such as energy and chemicals, and power.

Internationally, CCS is regarded as a key decarbonisation pathway to achieve global climate mitigation. Both the Intergovernmental Panel on Climate Change1 (IPCC) and International Energy Agency (IEA) have recognised the role of CCS to achieve net zero emissions by mid-century and mitigate the effects of global warming./.