‘This milestone is a solid foundation for Indonesia to systematically work toward our net-zero target by 2060 or sooner.’
ExxonMobil and Indonesia’s state-owned energy company Pertamina, have used the G20 Summit, held in Bali 15-16 November, to sign a Heads of Agreement to progress the development of a regional carbon capture and storage (CCS) hub. This agreement follows on from a joint study and memorandum of understanding signed at COP26 held in Glasgow, Scotland in 2021, and will set out the next steps for the project.
The CCS hub is set to be located off the coast of Java and the geological storage potential is said to be up to three billion metric tonnes of carbon dioxide. Indonesia’s government is working to develop supportive CCS regulations and is initiating discussions with other governments in the region. At the same time ExxonMobil is working to bring lower-emissions technologies to market, making them accessible to hard-to-decarbonise industries.
Indonesia’s Coordinating Minister for Maritime and Investment Affairs, H E Luhut B Pandjaitan commented: ‘This milestone is a solid foundation for Indonesia to systematically work toward our net-zero target by 2060 or sooner. Indonesia is growing, and it is imperative for us to address our carbon footprints for our future generations.’
ExxonMobil is making a push to accelerate the deployment of CCS, and to this end has announced its collaboration in a number of projects. Earlier this year the company said that it had signed a memorandum of understanding with CNOOC, Guangdong Provincial Development and Reform Commission, and Shell to explore the feasibility of developing a world-scale CCS hub in Daya Bay National Economic and Technological Development Zone in Huizhou, China.
The project will potentially capture up to 10 million tonnes of carbon dioxide each year from the area’s industrial sector. During October, ExxonMobil entered into an agreement with CF Industries, a global producer of nitrogen and hydrogen, to capture and permanently store up to two million tonnes per year of carbon dioxide from the company’s manufacturing complex located in Louisiana, US. This deal is said to be the largest commercial agreement of its kind.