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Wednesday, 9 November 2022, 04:00 HKT/SGT

Source: PT Pertamina
Pertamina develops green business to support emission reduction

JAKARTA, Nov 9, 2022 - (ACN Newswire) - State-owned energy company PT Pertamina develops a number of green business initiatives to support Indonesia's goal to achieve net zero emission by 2060.

CEO of PT Pertamina Power Indonesia Dannif Danusaputro (ANTARA/HO-Humas PT Pertamina)

The company has been investing in biofuels, renewable energy, carbon capture, utilization and storage, battery and electric vehicles, hydrogen as well as the carbon business.

"Pertamina is committed to supporting the Indonesia government's commitment to achieve net zero by 2060 or sooner. Therefore, our business strategy consists of two pillars, namely decarbonizing our core business and developing a green business," CEO of Pertamina Power Indonesia Dannif Danusaputro stated at the Indonesia Pavilion at COP27 in Sharm El Sheikh, Egypt, on Sunday (November 6).

He explained that Pertamina committed to allocating 14 percent of the projected 2022-2060 capital expenditure of US$70-80 billion US for the development of clean, new and renewable energy (NRE).

This commitment is in line with efforts to use domestic resources to supply domestic energy towards green development and decarbonization.

Pertamina also builds an integrated oil and gas supply chain to supply domestic needs and actively builds NRE portfolio using domestic resources.

The company will develop a greener energy mix by reducing the share of refined products and LPG from 81 percent to 61 percent, increasing the share of gas from three percent to 19 percent and increasing the share of NRE from one percent to 17 percent.

Considering a large investment required for the development of green business and clean technology to support the energy transition, Pertamina cooperates with national and global partners to explore partnerships in decarbonization programs, green businesses as well as accelerate the growth of EBT to achieve net zero emissions.

Banks can also invest in these green business initiatives.

The affordability of the clean energy transition will depend on reducing costs and increasing the availability of capital," Danusaputro said.

In order to support the energy transition in Indonesia, Pertamina is also optimizing the potential and increasing the installed capacity of NRE where the company has pioneered the use of NRE in Indonesia with a total capacity of 60 GW by 2060.

Pertamina will also commercialize green and blue hydrogen and take a strategic role in Indonesia's integrated battery and energy storage ecosystem through the development of the battery-powered electric vehicle industry in collaboration with several state-owned companies.

In addition, Pertamina is making efforts to increase refinery capacity to produce green fuel. Through several processes at the green refinery, Pertamina produces high-quality and more environmentally friendly fuel derived from palm oil including biodiesel, green diesel, green avtur and green gasoline.

Contact: Brahmantya Satyamurti Poerwadi, Corporate Secretary, PT Pertamina (Persero)
Email: pcc135@pertamina.com, URL: https://www.pertamina.com
Written by: Yashinta Difa Pramudyani, Editor: Fardah Assegaf (c) ANTARA 2022

Topic: Press release summary
Source: PT Pertamina

Sectors: Environment, ESG, Alternative Energy, ASEAN
From the Asia Corporate News Network

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