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AIR LIQUIDE

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Real-time Euronext Paris  -  11:35 2022-06-29 am EDT
131.86 EUR   -1.58%
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Indonesia's Pertamina, France's Air Liquide to study carbon capture

05/18/2022 | 12:55am EDT
A view of state-owned oil giant Pertamina's refinery unit IV  in Cilacap, Central Java, Indonesia

JAKARTA (Reuters) - Indonesia's state energy company PT Pertamina said late on Tuesday it will jointly study carbon capture technology at its refinery in Balikpapan with a local unit of French gas company Air Liquide.

Pertamina and Air Liquide Indonesia, signed a joint study agreement on capturing carbon emissions from its Balikpapan hydrogen production facility and storing the carbon in the Kutai basin area off East Kalimantan province.

Some of the emissions would be converted into products like methanol, which can be used to produce low-carbon fuels, Pertamina said in the statement.

Indonesia, which relies heavily on fossil fuels for its energy, aims to achieve net-zero emissions by 2060 and aims to nearly double the proportion of renewables in its energy mix to 23% by 2025.

Pertamina aims to slash its greenhouse gas emissions by 30% and increase its renewable energy mix to 17.7% by 2030.

"We hope...the agreement between Pertamina and Air Liquide will have a positive impact on accelerating the implementation of low-carbon technology and providing low-carbon energy resilience in Indonesia," chief executive Nicke Widyawati said in the statement.

Pertamina has been exploring carbon capture, utilization and storage (CCUS) technology to offset emissions as it boosts oil and gas production, Nicke said.

The company has signed a deal to explore lower carbon business opportunities in Indonesia with U.S. energy company Chevron Corporation.

It also has a deal with ExxonMobil Corp to assess the potential for large-scale implementation of CCUS and hydrogen production at three of Pertamina's facilities.

(Reporting by Bernadette Christina; Editing by Fransiska Nangoy and Kanupriya Kapoor)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIR LIQUIDE -1.58% 131.86 Real-time Quote.-5.15%
CHEVRON CORPORATION -1.97% 146.98 Delayed Quote.25.25%
LONDON BRENT OIL -0.20% 115.48 Delayed Quote.51.70%
WTI -0.20% 109.503 Delayed Quote.46.36%
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Financials
Sales 2022 27 374 M 28 661 M 28 661 M
Net income 2022 3 044 M 3 187 M 3 187 M
Net Debt 2022 10 825 M 11 334 M 11 334 M
P/E ratio 2022 22,7x
Yield 2022 2,20%
Capitalization 68 792 M 72 026 M 72 026 M
EV / Sales 2022 2,91x
EV / Sales 2023 2,79x
Nbr of Employees 66 400
Free-Float 48,6%
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 131,86 €
Average target price 163,38 €
Spread / Average Target 23,9%
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François Jackow Chief Executive Officer & Executive Vice President
Jerome Jenamarie Pelletan Chief Financial Officer-Taiwan
Benoît Potier Chairman
Jean-Paul Agon Lead Independent Director
Siân Herbert-Jones Independent Director
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