The Asia Natural Gas and Energy Association (ANGEA) and Global CCS Institute are partnering on a multi-year program that would help advance policy development for carbon capture and storage (CCS) technology in the Asia Pacific.
Both sides signed a memorandum of understanding (MoU) that will support three major areas surrounding carbon capture solutions in the region.
These areas are: policy advocacy, education and information, and other initiatives that have to do with the nascent sector.
According to ANGEA CEO Paul Everingham, the large-scale adoption and deployment of CCS technology is paramount for the decarbonization of the Asia Pacific region and a critical component of the world’s path to Net Zero.
“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,” Everingham said.
Everingham went on to mention the ever-improving quality of CCS technology and its proven ability to mitigate emissions, but what remains to be achieved is the ‘establishment of regulatory frameworks’ that would promote the creation of cross-border value chains.
And this is precisely what both the Global CCS Institute and ANGEA have been working on separately so far, but have chosen to combine their efforts in order to more effectively tackle policy matters.
The partnership also makes a lot of sense given the rising interest in many Asia Pacific countries to enter the market of importing and exporting CO2.
By joining forces, both organizations will help speed up the development of policies that will, in turn, facilitate investments needed for the wider adoption of CCS.