South Korea and Indonesia have agreed to work together to develop coalbed methane (CBM) projects.
The two countries agreed to expand cooperation in the whole gas value chain, a statement by the Ministry of Trade, Industry and Energy said.
"On the upstream front, South Korea and Indonesia discussed joint projects to develop coalbed methane gas in Indonesia," the statement said.
The agreements were signed during the annual Korea-Indonesia Energy Forum held on the island of Jeju in South Korea.
Indonesia’s CBM reserves are among the largest CBM reserves in the world. Currently, the country’s reserves are estimated to be around 453 trillion ft3, according to market analysts Indonesia Investments. This means the country sits on roughly 6% of worldwide CBM reserves. It is also more than double the country’s natural gas reserves. However, Indonesia’s utilisation of the energy resource remains low.
South Korea, meanwhile, has recently introduced a tougher tax aimed at curbing carbon emissions, as it looks to transition to a cleaner energy mix.
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/cbm/11062014/south_korea_and_indonesia_to_collaborate_in_cbm_development_cbm47/