Commitment to Reducing Carbon Emissions, PGN - POSCO International Sign Joint Study Agreement on CCS

Jakarta – PT PGN Tbk, as a Subholding Gas Pertamina, along with other Pertamina Subholdings, participates in a Joint Study with POSCO International regarding Carbon Capture and Storage (CCS). This strategic collaboration was marked by the signing of a Joint Study Agreement (JSA) during the Indonesia International Sustainability Forum (IISF) 2024 at the Jakarta Convention Center (JCC), on September 5, 2024. The JSA follows the Memorandum of Understanding (MoU) signed on July 25, 2023, between Pertamina Group and POSCO.

PGN's Director of Strategy and Business Development, Rosa Permata Sari, represented PGN's President Director at the ceremonial signing of the agreement. She was joined by Director of Finance and Investment of Pertamina Hulu Energi (PHE), Dannif Utojo; General Manager of PHE ONWJ, Muwir Wiratama; CEO of Pertamina Power Indonesia (PPI), John Anis; CEO of Pertamina International Shipping (PIS), Yoki Firnandi; and President & CEO of POSCO International, Lee Kye-In. Pertamina’s President Director, Nicke Widyawati, along with Atep Salyadi Dariah Saputra, Pertamina’s Director of Strategy, Portfolio, and Business Development, also witnessed the signing of the agreement between Pertamina Group and POSCO International.

PGN's Director of Strategy and Business Development, Rosa Permata Sari, stated that for PGN, this JSA adds value to efforts aimed at reducing carbon emissions through Carbon Capture and Storage (CCS) at Pertamina Group’s fields. Additionally, it optimizes PGN's Right of Way (ROW) transmission and explores the potential for integrating carbon aggregation for existing industrial customers.

"This joint study opportunity with POSCO International is a demonstration of PGN's seriousness in the CCS project initiative and our efforts to reduce carbon emissions. It is expected that this JSA will result in a comprehensive study so that CCS technology can be applied appropriately," Rosa explained on September 12, 2024.

The joint study with Krakatau POSCO will also assess other potential carbon emitters. Technically, PGN, together with PHE, PPI, and PIS, will conduct joint research with the POSCO International group. The planned storage site location for Pertamina Group's storage has been identified as the Pertamina Hulu Energi Offshore Northwest Java PSC (PHE ONWJ) area.

This initiative may also provide a solution for achieving the Net Zero Emission (NZE) targets for PGN’s existing customers and other emitters near PGN’s infrastructure network.

POSCO International is a South Korean company, a subsidiary of POSCO Group, operating in various business sectors, including steel trading, energy, oil & gas, agricultural resources, and chemicals. POSCO Group, through POSCO International, is interested in the CCS initiative and has signed the JSA with Pertamina Group.

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