Indonesia faces competition from other ASEAN member countries, such as Malaysia, Thailand, Vietnam, and the Philippines, which have potential for geological storage of CO2. Indonesia is projected to receive 80 percent of the carbon capture, utilization, and storage (CCUS) investment in the region by 2030, but this share is projected to decline to about 60 percent by 2040. Future CCUS investment in ASEAN will depend on legal and regulatory frameworks, as well as incentives provided by countries in the bloc. To compete with neighboring countries, Indonesia needs to have internationally credible projects and regulations positioning. Mechanisms such as failure-to-deliver penalties and clear long-term legal liabilities are essential to ensuring the capture and storage technology delivers on promises. Indonesia introduced Energy Ministerial Regulation No. 2/2023 to address issues in the oil and gas industry, but the existing regulation is insufficient to efficiently boost technology implementation. The technology could also be applied in power plants and other industries, but price-sensitive sectors like cement, iron and steel, and chemical industries need significant price reductions before CCS can be used in the industrial sector.Link di fonte: https://www.thejakartapost.com/business/2023/08/04/ri-needs-new-rules-to-compete-for-carbon-capture-investment-experts.html (ICE GIACARTA)

Fonte notizia: The Jakarta Post - 4 August 2023