The Energy and Mineral Resources Ministry has claimed that investment in the oil and gas upstream sector in Indonesia is still attractive for global investors.
Indonesian President Joko Widodo will oversee the signing of $18.8 billion worth of energy and trade deals on a visit to Abu Dhabi, including a deal to upgrade a West Java refinery.
Indonesia’s gas producers could be forced to sell a proportion of their output locally to ensure manufacturers can secure cheap supplies after they complained about high prices.
Indonesia’s annual cooling sales will likely grow from 7.8 million units in 2018 to 14.2 million in 2030.
Singapore-based tech firm Grab is ramping up its electric vehicle plans in Indonesia through the launch of a roadmap to drive EV adoption, with support from the Indonesian government.
With current pricing scheme not interesting to investors, Indonesia now preparing improved geothermal feed-in-tariff structure based on the investment value or project economics.
“We are in coordination with GEM and CATL to build lithium battery plants in Indonesia,” Pandjaitan told reporters, referring to Chinese battery firm GEM Co Ltd and Contemporary Amperex Technology Ltd.
“As we all know, Indonesia needs more motorcycles than cars. This means that we need to focus on producing electric motorcycles.”