The Asia Natural Gas and Energy Association (ANGEA) and Global CCS Institute have entered into a formal memorandum of understanding to help advance policy development, advocacy and education for carbon capture and storage (CCS) technology in the Asia Pacific.
The MOU will cover three major areas:
- policy advocacy related to carbon capture and storage
- participation in education, information or advocacy events related to carbon capture and storage
- other initiatives related to carbon capture and storage
ANGEA CEO Paul Everingham said the widespread adoption of CCS was absolutely essential to decarbonisation in the Asia Pacific and that there were natural synergies in the work being undertaken by the two organisations.
“The world won’t get to net zero without progress on climate targets in Asia Pacific. Equally, our region won’t realise its decarbonisation aspirations without very significant investment in CCS,” Mr Everingham said.
“CCS is a strong focus for ANGEA and its member companies and it’s a natural fit for us to partner with the Global CCS Institute, which has vast global expertise and strong experience across all aspects of carbon capture and storage.
“While the technology behind CCS is always developing, to a large extent it’s already proven from a technical standpoint. What’s still to be achieved – particularly in Asia – is the establishment of regulatory frameworks that will support cross-border CCS value chains, business models that support project financing and also widespread understanding of the integral role CCS will play in energy transition.
“These are areas where ANGEA and the Global CCS Institute were already working on policy matters independently and it makes a lot of sense for us to collaborate and tackle them together.”
Leading international organisations, including the Intergovernmental Panel on Climate Change, have identified CCS solutions as critical in practical pathways to the global 2050 net zero target.
Global CCS Institute General Manager – External Affairs, Alex Zapantis, said:
“Across the Asia Pacific, the Institute sees a dynamic environment for deployment of CCS, spurred by significant government and industry activity over the past year. Our recently released Global Status of CCS Report shows the number of CCS facilities in development within the region has more than doubled, expanding from 20 facilities last year, to 54 this year.
“There is also growing interest from many countries in the Asia Pacific to progress opportunities in the emerging CO2 import and export trade markets.
“In signing this MOU with ANGEA, the Institute hopes that our combined activities and advocacy will help accelerate development of the policies needed to attract investment and remove barriers for deployment of CCS; generating further momentum for CCS across the Asia Pacific.”
ANGEA recently launched the first-of-its-kind Asia Pacific Cross Border Accreditation Study, which seeks to harmonise emission reduction verification mechanisms across the region and unlock investment in CCS.
The multi-year program will involve engagement with key stakeholders in government, industry and NGOs across Asia Pacific to produce a common framework for the accreditation of C02 emission reductions.
ANGEA is an industry association representing LNG and natural gas producers, energy buyers, suppliers and companies in APAC. Based in Singapore, it works in partnership with governments and societies across the region to deliver reliable and secure energy solutions that achieve national economic, energy security, social and environmental objectives and meet global climate goals.
The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. With a team of professionals working with and on behalf of its Members, the Institute drives the adoption of CCS as quickly and cost effectively as possible by sharing expertise, building capacity and providing advice and support so that this vital technology can play its part in reducing greenhouse gas emissions. The Institute is headquartered in Melbourne, Australia, with offices in Washington DC, Brussels, Beijing, London, Tokyo and Abu Dhabi.