Bangkok, 15 August 2024: The Fourth Asia CCUS Network Forum, co-hosted by ERIA, Japan's Ministry of Economy, Trade and Industry (METI), Thailand's Ministry of Energy (MOEN), and the SETA 2024 Secretariat, took place on 15 August 2024 at BITEC, Bangkok.

The forum was officially opened by Dr Norkun Sitthiphong, Advisor to the Minister of Energy, Thailand and H.E. Otaka Masato, Ambassador Extraordinary and Plenipotentiary of Japan to Thailand. Video remarks were delivered by key figures including H.E. Arifin Tasrif, Minister of Energy and Mineral Resources of Indonesia; H.E. Ken Saito, Minister of Economy, Trade, and Industry of Japan; the Honourable Khamso Kouphokham, Permanent Secretary of the Ministry of Energy and Mines of Lao PDR; Ir Dr Sanjayan Velautham, Chief Operating Officer of the Energy Commission of Malaysia; and Tetsuya Watanabe, President of ERIA.

Minister Arifin Tasrif said in his remarks, ‘The transition to a low-carbon economy is both a significant challenge and opportunity. Indonesia is committed to developing CCUS technology as part of our strategy to achieve net-zero emissions by 2060. We believe that regional and international collaboration is crucial to accelerating the implementation of this technology and creating a sustainable future.’

This year's forum focused on recent developments in the regulatory framework for CCS/CCUS, advancements in carbon utilisation technology (or carbon recycling), and policy discussions regarding CCS/CCUS business opportunities amongst ACN member countries. The forum underscored the critical role of CCS/CCUS regulations in encouraging private sector involvement and recommended that ACN member countries learn from the regulations of more advanced nations.

Carbon recycling technology, particularly for producing construction materials, synthetic fuels, synthetic chemicals, and methane gases, was identified as a key area for ACN member countries to explore. However, the high cost of carbon recycling products presents a significant challenge, highlighting the need for further technological development and the establishment of a carbon pricing market.

ACN member countries have made significant progress in the field of CCS/CCUS. Indonesia has implemented CCS/CCUS regulations across various industries and is studying CO2 storage potential in saline aquifers. Malaysia, through Petronas, is investigating the feasibility of CO2 cross-boundary transportation. Thailand is advancing five CCS/CCUS pilot projects and assessing CO2 storage potential at five candidate sites. The Philippines is revisiting the potential for CCUS and the need for a supportive legal and regulatory framework. Additionally, numerous MOUs and MOCs signed by Japanese and local companies are expected to enhance the number of CCS/CCUS pilot projects within ACN member countries.

As a key platform for CCS/CCUS development and deployment in the Asia region, the ACN will continue to support its member countries by sharing knowledge on legal and regulatory frameworks, assessing CO2 storage potential, establishing CO2 value chain networks between emitting and storing countries, and developing financing schemes, including carbon pricing markets and carbon credit mechanisms.