Korean CCS/CCUS Industry Players Meet the Directorate General of Oil and Gas

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30 November 2023 – Karbon Korea, KC Green Holdings, Korea Energy Economics Institute (KEEI), and Korea University, along with KIORCC, discussed possible collaboration in CCS/CCUS developments with the Directorate General of Oil and Gas (Ditjen Migas) of the Ministry of Energy and Mineral Resources (MEMR). In attendance from Ditjen Migas were the Director General, Prof. Ir. Tutuka Ariadji; and the Technical and Environmental Director for Oil and Gas, Dr. Mirza Mahendra.

During this meeting, the Korean delegation shared the latest developments in CCS/CCUS, especially on carbon capture to Ditjen Migas, and on potential collaborations between Korea and Indonesia in capacity building and joint studies. Karbon Korea, represented by their senior advisor, Dr. Cho Won Dong, shared their recent milestone in signing a Memorandum of Understanding (MoU) with PLN for carbon capture collaborations for coal power plants and their future collaboration plans.

In support of Korean involvement in the Indonesian industry, Ditjen Migas shares certain challenges that need to be prepared for future investors, such as the high costs of carbon capture; relatively low incentives for industries to capture CO2; and low experience in CO2 transportation. However, a Presidential Regulation is underway to cover certain gaps and uncertainties in the industry, including cross-border implementation, which will be a promising and supporting outline for future CCS/CCUS activities.