Pertamina, Keppel Infrastructure & Chevron Sign Research Agreement to Develop Green Hydrogen & Ammonia Project

Pertamina Power Indonesia, Keppel Infrastructure (through Keppel New Energy), Chevron Corporation (through Chevron New Energies International (Chevron New Energies)) is a joint research exploring the development of certain green hydrogen and green ammonia projects using renewable energy, primarily in Sumatra, Indonesia. We have signed the agreement (JSA).

The signing of the JSA took place at the Business 20 (B20) Investment Forum held in conjunction with the B20 Summit in Bali. The B20 is the official G20 engagement group representing the global business community. The signing of the JSA was made by Dannif Danusaputro, CEO of Pertamina NRE, Chua Yong Hwee, Director of Keppel New Energies, and Andrew S. Mingst, Director of Chevron New Energies International. The signatures included Mr. Luhut Pandjaitan, Indonesia’s Coordinating Minister for Maritime Affairs and Investment; Mr. Bahlil Lahadalia, Indonesia’s Minister of Investment and Head of BKPM; Nicke Widyawati, President and CEO of Pertamina (Persero); I had Cindy Lim present.

The JSA intends to explore the feasibility of developing a green hydrogen facility with the capacity to produce at least 40,000 tonnes per annum using 250-400 megawatts of geothermal energy in the initial phase. The hydrogen production facility has the potential to be scaled up from up to 80,000 to 160,000 tonnes per year, depending on geothermal energy availability and market demand.

JSA has partnered with Indonesia’s largest energy company Pertamina, and Singapore’s leading energy infrastructure solutions provider Keppel Infrastructure with a strong track record in developing and operating large-scale energy and environmental infrastructure projects, and affordable It aims to leverage the complementary strengths of Chevron, a multinational energy company focused on providing reliable and increasingly clean energy.

According to a report by the International Energy Agency, Indonesia, the world’s fourth most populous country, has a realistic path to reach its net-zero emissions target by 2060¹. Hydrogen and ammonia are expected to be important low-carbon fuels that will be part of this roadmap. Ammonia can also be used to transport hydrogen and has the potential to replace bunker fuels as a low-carbon solution in the global marine industry.

Indonesia accounts for about 40% of the world’s geothermal resources and offers opportunities to utilize geothermal energy as a reliable and stable energy source for the production of green ammonia and green hydrogen.

Pertamina NRE CEO Dannif Danusaputro said: “The development of green hydrogen and green ammonia has an important role in Indonesia’s net-zero emissions roadmap. Given its potential, Indonesia will also play a major role in green hydrogen production in Asia. We are very excited about this strategic collaboration, knowing that Keppel and Chevron are established companies who share our vision for the energy transition.”

Cindy Lim, CEO of Keppel Infrastructure, said: “Indonesia is a country with enormous resources and tremendous potential for renewable low-carbon energy. We are pleased to partner with industry leaders Pertamina and Chevron. Exploring first-time use of geothermal energy and other renewable energy to develop ammonia projects, support energy transition activities in Indonesia, and promote investment in green energy supply chains in the region. In line with Keppel’s Vision 2030, which places sustainability at the heart of its strategy, the collaboration will broaden Keppel Infrastructure’s geographic presence and contribute to the global commitment to net zero and the value derived from its energy transition. We aim to create and acquire more of

Austin Knight, Vice President, Hydrogen, Chevron New Energies, said: “We have a long history of working in Indonesia and with Pertamina and our growing relationship with Keppel Infrastructure. We look forward to leveraging our collective strengths. Chevron’s strength has always been in solving big and complex energy challenges, and creating a low-carbon future is our motivation. As part of this effort, we will work together to find new and innovative ways to generate and deliver cleaner energy to our growing world. I have to.”

Keppel Infrastructure’s parent company, Keppel Corporation Limited, does not expect the developments described above to have a material impact on Keppel Corporation’s earnings per share and tangible book value per share for the current period.

About Pertamina NRE

PT Pertamina Power Indonesia (Pertamina NRE) is part of PT Pertamina (Persero), Indonesia’s largest energy company, with PT Pertamina Geothermal Energy (subsidiary) and PY Java Satu Power (affiliate). , PT Java Satu Regaz (affiliated company), and PT Industri Baterai Indonesia. The focus of our business is the development of clean energy. We are strongly committed to supporting Indonesia’s Net Zero Emissions 2060 through energy transition and implementing ESG.

About Keppel Infrastructure

Keppel Infrastructure (KI) is a wholly owned subsidiary of Keppel Corporation, Singapore’s leading multinational company providing solutions for sustainable urbanization. Through its Power & Gas, Environmental, and New Energy businesses, KI provides solutions to some of the world’s most pressing challenges, leveraging unique technology, strong technical expertise, and proven operational capabilities. doing.

KI has a track record of developing the entire energy and environmental infrastructure, including power generation assets, waste-to-energy (WTE) facilities, large-scale district cooling systems, and neuwater and desalination plants. included. In Singapore, it operates a 1,300 MW high-efficiency gas-fired combined cycle power plant on Jurong Island, as well as a network of utility pipe racks and pipelines. It is also Singapore’s leading electricity retailer and the first and largest district cooling system developer and service company. Globally, through Keppel-Segers, it is one of the largest WTE technology companies and has been involved in over 100 projects in 20 countries.

KI’s growing presence in Singapore and abroad spans power generation, waste management, district cooling, renewables and energy storage, electric vehicle charging infrastructure, and other clean energy opportunities.

For more information, please visit www.kepinfra.com.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe that affordable, reliable, and cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas, manufactures transportation fuels, lubricants, petrochemicals, and additives, and develops technologies that power our businesses and industries. Chevron is committed to reducing the carbon intensity of its operations and is growing lower carbon businesses alongside its traditional business areas. 

For more information, please visit www.chevron.com.