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GE GE Aerospace

167.37
2.11 (1.28%)
25 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
GE Aerospace NYSE:GE NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  2.11 1.28% 167.37 169.15 163.85 165.83 5,550,254 00:58:37

GE-Led Group to Explore CCUS Value Chain in Indonesia's Gas Power Sector -- OPIS

11/09/2023 8:57pm

Dow Jones News


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A group of companies led by General Electric subsidiary GE Vernova will conduct a feasibility study to develop a carbon capture, utilization and storage value chain in Indonesia's gas power sector, GE said Monday.

The other partners in the group are South Korean CCUS company Carbonco, natural gas producer BP Berau, a unit of supermajor BP, and Indonesian utilities PLN Nusantara Power and PT Jawa Satu Power.

They have signed a memorandum of understanding on the study, which will focus on developing an entire CCUS value chain, from the deployment of carbon capture technology at gas-fired power plants to the transportation of carbon dioxide to export terminals.

They plan to use the captured CO2 at BP Berau's Tangguh field for enhanced gas recovery, the process of pumping CO2 to depleted reservoirs to extract fossil fuels that would have otherwise remained underground. The CO2 is then sequestered in the ground.

GE said the MoU will leverage GE Vernova Gas Power business's expertise in combined cycle power plant integration with carbon capture plants, Carbonco's leadership in CCUS technology, BP's expertise in CCUS and the Indonesian utilities' installed base.

The partnership builds on an announcement made in October by GE and Carbonco to jointly explore a roadmap for the integration of CCUS technology with gas-fired power plants in Asia and Oceania.

Both parties have since identified and developed "tangible opportunities" based on economic viability and project feasibility, GE said.

The company said the feasibility study is part of Indonesia's efforts to bolster its energy transition, especially in the power generation sector.

Indonesia aims to reduce greenhouse gas emissions by at least 31% on its own or up to 43% with international support by 2030. It has set a net zero target for 2060.

 

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

 

--Reporting by Abdul Latheef, alatheef@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

 

(END) Dow Jones Newswires

September 11, 2023 15:42 ET (19:42 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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