As the world grapples with the urgency of addressing climate change, Carbon Capture, Utilization, and Storage (CCUS) has emerged as a pivotal solution in the battle against rising emissions. In the context of Southeast Asia's remarkable economic growth and its commitment to carbon neutrality by 2050, CCUS has never been more crucial. The Economic Research Institute for ASEAN and East Asia (ERIA) invites you to a unique opportunity to gain deeper insight into CCUS development in Asia and engage with CCUS experts.

ERIA invites you to join us to learn more about the joint statement issued at the 3rd Asia CCUS Network Forum. This is a unique opportunity to engage with ERIA experts, gain insights into the future of CCUS development in Asia. This event will be held:

Date : Wednesday, 18 October 2023

Time : 2 PM - 2.45 PM (Jakarta Time | UTC+7)

Venue : Meeting Room 3 & 4

We look forward to welcoming you to this event.

Background Data: Why CCUS is Essential for ASEAN Countries

Southeast Asia has witnessed unprecedented economic growth, averaging around 5% per year for the past three decades. With this continued trajectory, the region is poised for even greater development until 2050. At the same time, many Southeast Asian countries have set ambitious carbon-neutral targets for around 2050.

To meet their energy needs for economic growth, Asian countries have increasingly turned to thermal power plants due to their cost-effectiveness and reliability. However, due to the young age of the thermal plants and the limited potential of renewable energy, they have not found it easy to achieve their potential in a short period of time.

Achieving carbon neutrality within such a short timeframe presents significant challenges, but Asia has multiple pathways available to reach this goal by 2050. These include adopting renewable energy sources and innovative clean energy technologies like hydrogen/fuel ammonia and CCUS.

What is CCUS?

Carbon Capture, Utilization, and Storage (CCUS) is a technology that captures CO₂ to be utilized and stored to reduce the amount of carbon emission in the atmosphere. Another method called Carbon capture and storage (CCS) captures carbon dioxide (CO2) emissions and stores them underground, without utilizing the carbon captured. In the Asian region, these CCS and CCUS methods are important technologies to reach carbon neutrality.

CCUS involves processes like enhanced oil recovery (EOR) and enhanced gas recovery (EGR), which can help with energy security and transition when managed properly.

However, CCS requires underground space to store the captured CO2, often in places like saline aquifers. Unfortunately, not all Asian countries have suitable geological structures for this. Therefore, creating a chain that connects emission sources to CO2 storage sites, known as a CCUS value chain, is crucial. This means establishing a system for cross-border trading of CO2 is necessary.

ASIA CCUS Network: A Collaborative Initiative

The Asia CCUS Network (ACN) provides a platform for policymakers, financial institutions, industry players, and academia to work together to ensure the successful development and deployment of CCUS in the Asia region.

The members of the network share their knowledge, experience, and best practices of CCUS around the world in the efforts to accelerate the implementation of CCUS in the Asia region.

Asia CCUS Network considers initiating a CCS pilot project in ASEAN region referring to significant expertise and experience on CCUS of developed countries such as Australia, Japan and United States, and selection of appropriate candidate sites through conducting research studies, and holding the knowledge sharing conferences, and capacity building trainings.

One of ACN’s activities is the Asia CCUS Network Forum, which has been held every year since 2021. The main goal of the forum is to discuss the latest issue regarding the implementation of CCUS with high-level officials and experts from ACN member countries.

The 3rd Asia CCUS Network Forum

The 3rd Asia CCUS Network (ACN) Forum took place on 27 September 2023, at the Hilton Hiroshima hotel in Japan. Co-hosted by ERIA as the ACN Secretariat and the Ministry of Economy, Trade, and Industry (METI) Japan, the event featured addresses from HE Mr. Yasutoshi Nishimura, Minister of Economy, Trade, and Industry, Japan, and Prof. Tetsuya Watanabe, President of ERIA. Distinguished delegates from ACN member countries, including ASEAN Member States, Australia, Japan, and the United States, attended the Forum. Representatives from the International Energy Agency (IEA), Global CCS Institute (GCCSI), Japan Organization for Metals and Energy Security (JOGMEC), and Petroliam Nasional Berhad (PETRONAS) were also present.

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