30 July 2024 – The Indonesia Carbon Capture and Storage Center (ICCSC) and the Korean Register (KR) held a meeting after the successful completion of ICCSC’s International and Indonesia CCS Forum (IICCS). This meeting, following the recent developments of CCS regulations in Indonesia, and the Government of Korea’s rising interest in CCS participation and cross-border carbon transportation, was supported by KIORCC.

During this meeting, ICCSC provided insightful information on the political and regulatory landscape and potential development of CCS and cross-border opportunities in Indonesia. International collaboration for CCS activities in Indonesia was kickstarted in 2024 by a Letter of Intent (LOI) signing in CCS collaborations between the governments of Singapore and Indonesia.

Indonesia, though only recently developing policies in this field, is ambitious in building a domestic and international value chain. The current and upcoming governments show sustained interest in the matter, but face challenges in permitting CCS activities due to the extended process of regulation development, and ultimately developing the roles of related ministries. Furthermore, the new and still unclear practices of carbon trading needs to be established further to support business activities in the matter.

Similar to the Indonesian government, KIORCC is optimistic in future advancements for the CCS industry in Indonesia. KIORCC will continuously follow developments in this subject, and is prepared to support bilateral cooperation in the future.