NUSA DUA: The United States President Joe Biden announced a number of investments in Indonesia spanning areas like climate and food security, including a US$2.5bil (RM11.7bil) agreement between ExxonMobil and state-owned energy company Pertamina on carbon capture.
ExxonMobil and Pertamina’s agreement will further assess development of a regional carbon capture and sequestration hub in Indonesia, the White House said in a statement. The partnership “will enable key industry sectors to decarbonise” the statement said, citing the refining, chemicals, cement, and steel sectors.
It said this would lower carbon emissions, ensure economic opportunities for Indonesian workers and help Indonesia achieve its net-zero ambitions in 2060 or sooner.
A joint study by Pertamina and Exxonmobil had found a potential carbon storage capacity of one billion tonnes in Pertamina’s oil and gas fields.
It could permanently store Indonesia’s emissions for the next 16 years, Pertamina said in a separate statement on Sunday.
Biden is visiting Indonesia to take part in a G20 summit this week in Bali and announced the investments in a meeting with Indonesian President Joko Widodo, where he described the South-East Asian country as a “critical partner”.
Indonesia President Joko Widodo said on Sunday at the launch of a G20 pandemic fund that the amount of money raised so far to improve preparedness for future pandemics was not yet sufficient.
“I expect bigger support,” he said in a video address.
The US president also said the two countries would collaborate to “protect our people” from Covid-19. The United States and Indonesia also agreed to launch a US$698mil (RM3.3bil) Millennium Challenge Corporation compact.
It is to help support development of climate-conscious transportation infrastructure in five Indonesian provinces and other development goals, the White House statement said.The funds include US$649mil (RM3bil) from the United States and US$49mil (RM228mil) from Indonesia. — Reuters
