Key climate policy targets

NZE 2060

  • Modelling roadmap NZE 2060, in the balance of high ambition, science and the real economy
  • Inter-ministerial discussion on Long Term Strategy for Low Carbon and Climate Resilient (LTS-LCCR) for target carbon emission from the energy sector.
  • Include CCS option in carbon reduction strategy for industry.

NDC 2030

  • Alignment strategic plan 2030 into energy sector long-term strategy NZ 2060
  • Considering the 2030 zero routine flaring policy for upstream oil and gas (UOG) activities (under

Current government strategy for CCS-CCUS

  • Involving universities and research institutions as center of Experts on CCS-CCUS
  • Strengthening cooperation to deploy CCS-CCUS project

Deployment policies and programmes in place

Carbon pricing system, cap and trade, cap and tax scheme in place

  • Issuance Act No.7 Year of 2021 regarding Harmonized Taxation,
  • Issuance Presidential Regulation Number 98 of 2021 regarding carbon pricing.

CCS/CCUS Implemententation

  • Issuance Ministerial Regulation No. 2 year 2023 regarding CCS/CCUS Implementation on
    Upstream Oil and Gas
  • The current PSCs scheme accommodates CCS-CCUS from upstream oil and gas,
  • Include CCS-CCUS operating cost charges within the petroleum operation cost

Priorities going forward

Legislation program

  • Include CCS-CCUS activities in revision of the Oil and Gas Act
  • Under discussion to start formulating regulations regarding CCS Hub

Establishing international cooperation on CCS-CCUS implementation

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