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Ada Pertanyaan? Hubungi Kami
Ari Pramuditya, Kartini L. Makmur
Minister of Energy and Mineral Resources, Sudirman Said. Photo by: RES
The government has finally decided to postponethe establishment of the so-called Energy-Security Fund (Dana Ketahanan Energi - DKE) levy due to ongoing debate regarding the legal basis for such a levy. However, the government has confirmed that it will continue in its efforts to clarify energy-management policy as mandated by Law No.30 of 2007on Energy (Energy Law) and Government Regulation No. 79 of 2014on National Energy Policy (National Energy Policy).
One of the main concerns, according to Sudirman Said, Indonesia’s Minister of Energy and Mineral Resources, is the fact that Indonesia does not have any Energy Support Reserves (Cadangan Penyangga Energi – “CPE”), whereas the Energy Law and National Energy Policy mandates that Indonesia establish CPE consisting of deposit reserves of crude oil and fuel that are only to be used in an emergency situations.
Mr. Said stated that neighboring Southeast Asian countries had already made CPE allocations, which were known as Strategic Petroleum Reserves (“SPR”). For example, Myanmar has four months worth of CPE, while Thailand has accumulated 80 days of CPE and Vietnam has a 47-day fuel buffer. “It is important for us to implement the Energy Law and the National Energy Policy,” Said declared in a press release dated Tuesday 5 January 2016.
Not only do the Energy Law and the National Energy Policy mandate for CPE, according to Mr. Said, but they also mandate for an increase in the utilization of renewable energy. Furthermore, under the current regulatory framework, national development and utilization of new and renewable forms of energy (Energi Baru Terbarukan – “EBT”) must increase to 23% by 2050, up from the country’s current EBT figure of only 7%.
Importance of the Energy-Security Fund
Although the government has officially decided to postpone the creation of an energy-security fund until further notice, Mr. Said added that such a fund was necessary in order to accelerate the development of energy access in remote villages. Mr. Said admitted that currently, more than 2,500 villages have still yet to be connected to the electricity grid. Moreover, almost 13,000 villages are only powered by renewable forms of electrical energy.
Said explained that an energy-security fund could be used to boost the nation’s oil and gas Replacement Reserves Ratio (Rasio Penggantian Cadangan) up to 100%. Moreover, Mr. Said stressed that during the current slump in world oil prices, which are predicted to last for a considerable length of time to come, enhancing the role and involvement of the state in oil and gas exploration will be important.
“These things can only be achieved if we have the additional resources to stimulate and finance our pilot programs, which corporations or energy businessmen cannot yet take advantage of,” Said explained.
According to Mr. Said, Indonesia should learn from its neighbors and establish and manage an energy-security fund in order that the country becomes less vulnerable to any energy shortfall in the future. Mr. Said further stated that many countries had already established such funds in order to support their energy reserves.
Mr. Said stated that Norway had USD 17 billion in its energy-security fund, plus USD 836 billion in its Petroleum Fund, while England and Australia had USD 1.5 billion and USD 1.8 billion respectively. Even Indonesia’s small neighbor of East Timor had managed to accumulate a Petroleum Fund of USD 17 billion.
“Maybe there will be to the possibility of collecting energy-security funds from business entities who are engaged in the non-renewable energy sector. This may be a solution so that all of our objectives can be achieved. As a consequence, the government should offer more lenient margins to business entities through regulation,” Mr. Said concluded.
(rfs/sp)
One of the main concerns, according to Sudirman Said, Indonesia’s Minister of Energy and Mineral Resources, is the fact that Indonesia does not have any Energy Support Reserves (Cadangan Penyangga Energi – “CPE”), whereas the Energy Law and National Energy Policy mandates that Indonesia establish CPE consisting of deposit reserves of crude oil and fuel that are only to be used in an emergency situations.
Mr. Said stated that neighboring Southeast Asian countries had already made CPE allocations, which were known as Strategic Petroleum Reserves (“SPR”). For example, Myanmar has four months worth of CPE, while Thailand has accumulated 80 days of CPE and Vietnam has a 47-day fuel buffer. “It is important for us to implement the Energy Law and the National Energy Policy,” Said declared in a press release dated Tuesday 5 January 2016.
Not only do the Energy Law and the National Energy Policy mandate for CPE, according to Mr. Said, but they also mandate for an increase in the utilization of renewable energy. Furthermore, under the current regulatory framework, national development and utilization of new and renewable forms of energy (Energi Baru Terbarukan – “EBT”) must increase to 23% by 2050, up from the country’s current EBT figure of only 7%.
Importance of the Energy-Security Fund
Although the government has officially decided to postpone the creation of an energy-security fund until further notice, Mr. Said added that such a fund was necessary in order to accelerate the development of energy access in remote villages. Mr. Said admitted that currently, more than 2,500 villages have still yet to be connected to the electricity grid. Moreover, almost 13,000 villages are only powered by renewable forms of electrical energy.
Said explained that an energy-security fund could be used to boost the nation’s oil and gas Replacement Reserves Ratio (Rasio Penggantian Cadangan) up to 100%. Moreover, Mr. Said stressed that during the current slump in world oil prices, which are predicted to last for a considerable length of time to come, enhancing the role and involvement of the state in oil and gas exploration will be important.
“These things can only be achieved if we have the additional resources to stimulate and finance our pilot programs, which corporations or energy businessmen cannot yet take advantage of,” Said explained.
According to Mr. Said, Indonesia should learn from its neighbors and establish and manage an energy-security fund in order that the country becomes less vulnerable to any energy shortfall in the future. Mr. Said further stated that many countries had already established such funds in order to support their energy reserves.
Mr. Said stated that Norway had USD 17 billion in its energy-security fund, plus USD 836 billion in its Petroleum Fund, while England and Australia had USD 1.5 billion and USD 1.8 billion respectively. Even Indonesia’s small neighbor of East Timor had managed to accumulate a Petroleum Fund of USD 17 billion.
“Maybe there will be to the possibility of collecting energy-security funds from business entities who are engaged in the non-renewable energy sector. This may be a solution so that all of our objectives can be achieved. As a consequence, the government should offer more lenient margins to business entities through regulation,” Mr. Said concluded.
(rfs/sp)
Ari Pramuditya, Kartini L. Makmur
Minister of Energy and Mineral Resources, Sudirman Said. Photo by: RES
The government has finally decided to postponethe establishment of the so-called Energy-Security Fund (Dana Ketahanan Energi - DKE) levy due to ongoing debate regarding the legal basis for such a levy. However, the government has confirmed that it will continue in its efforts to clarify energy-management policy as mandated by Law No.30 of 2007on Energy (Energy Law) and Government Regulation No. 79 of 2014on National Energy Policy (National Energy Policy).
One of the main concerns, according to Sudirman Said, Indonesia’s Minister of Energy and Mineral Resources, is the fact that Indonesia does not have any Energy Support Reserves (Cadangan Penyangga Energi – “CPE”), whereas the Energy Law and National Energy Policy mandates that Indonesia establish CPE consisting of deposit reserves of crude oil and fuel that are only to be used in an emergency situations.
Mr. Said stated that neighboring Southeast Asian countries had already made CPE allocations, which were known as Strategic Petroleum Reserves (“SPR”). For example, Myanmar has four months worth of CPE, while Thailand has accumulated 80 days of CPE and Vietnam has a 47-day fuel buffer. “It is important for us to implement the Energy Law and the National Energy Policy,” Said declared in a press release dated Tuesday 5 January 2016.
Not only do the Energy Law and the National Energy Policy mandate for CPE, according to Mr. Said, but they also mandate for an increase in the utilization of renewable energy. Furthermore, under the current regulatory framework, national development and utilization of new and renewable forms of energy (Energi Baru Terbarukan – “EBT”) must increase to 23% by 2050, up from the country’s current EBT figure of only 7%.
Importance of the Energy-Security Fund
Although the government has officially decided to postpone the creation of an energy-security fund until further notice, Mr. Said added that such a fund was necessary in order to accelerate the development of energy access in remote villages. Mr. Said admitted that currently, more than 2,500 villages have still yet to be connected to the electricity grid. Moreover, almost 13,000 villages are only powered by renewable forms of electrical energy.
Said explained that an energy-security fund could be used to boost the nation’s oil and gas Replacement Reserves Ratio (Rasio Penggantian Cadangan) up to 100%. Moreover, Mr. Said stressed that during the current slump in world oil prices, which are predicted to last for a considerable length of time to come, enhancing the role and involvement of the state in oil and gas exploration will be important.
“These things can only be achieved if we have the additional resources to stimulate and finance our pilot programs, which corporations or energy businessmen cannot yet take advantage of,” Said explained.
According to Mr. Said, Indonesia should learn from its neighbors and establish and manage an energy-security fund in order that the country becomes less vulnerable to any energy shortfall in the future. Mr. Said further stated that many countries had already established such funds in order to support their energy reserves.
Mr. Said stated that Norway had USD 17 billion in its energy-security fund, plus USD 836 billion in its Petroleum Fund, while England and Australia had USD 1.5 billion and USD 1.8 billion respectively. Even Indonesia’s small neighbor of East Timor had managed to accumulate a Petroleum Fund of USD 17 billion.
“Maybe there will be to the possibility of collecting energy-security funds from business entities who are engaged in the non-renewable energy sector. This may be a solution so that all of our objectives can be achieved. As a consequence, the government should offer more lenient margins to business entities through regulation,” Mr. Said concluded.
(rfs/sp)
One of the main concerns, according to Sudirman Said, Indonesia’s Minister of Energy and Mineral Resources, is the fact that Indonesia does not have any Energy Support Reserves (Cadangan Penyangga Energi – “CPE”), whereas the Energy Law and National Energy Policy mandates that Indonesia establish CPE consisting of deposit reserves of crude oil and fuel that are only to be used in an emergency situations.
Mr. Said stated that neighboring Southeast Asian countries had already made CPE allocations, which were known as Strategic Petroleum Reserves (“SPR”). For example, Myanmar has four months worth of CPE, while Thailand has accumulated 80 days of CPE and Vietnam has a 47-day fuel buffer. “It is important for us to implement the Energy Law and the National Energy Policy,” Said declared in a press release dated Tuesday 5 January 2016.
Not only do the Energy Law and the National Energy Policy mandate for CPE, according to Mr. Said, but they also mandate for an increase in the utilization of renewable energy. Furthermore, under the current regulatory framework, national development and utilization of new and renewable forms of energy (Energi Baru Terbarukan – “EBT”) must increase to 23% by 2050, up from the country’s current EBT figure of only 7%.
Importance of the Energy-Security Fund
Although the government has officially decided to postpone the creation of an energy-security fund until further notice, Mr. Said added that such a fund was necessary in order to accelerate the development of energy access in remote villages. Mr. Said admitted that currently, more than 2,500 villages have still yet to be connected to the electricity grid. Moreover, almost 13,000 villages are only powered by renewable forms of electrical energy.
Said explained that an energy-security fund could be used to boost the nation’s oil and gas Replacement Reserves Ratio (Rasio Penggantian Cadangan) up to 100%. Moreover, Mr. Said stressed that during the current slump in world oil prices, which are predicted to last for a considerable length of time to come, enhancing the role and involvement of the state in oil and gas exploration will be important.
“These things can only be achieved if we have the additional resources to stimulate and finance our pilot programs, which corporations or energy businessmen cannot yet take advantage of,” Said explained.
According to Mr. Said, Indonesia should learn from its neighbors and establish and manage an energy-security fund in order that the country becomes less vulnerable to any energy shortfall in the future. Mr. Said further stated that many countries had already established such funds in order to support their energy reserves.
Mr. Said stated that Norway had USD 17 billion in its energy-security fund, plus USD 836 billion in its Petroleum Fund, while England and Australia had USD 1.5 billion and USD 1.8 billion respectively. Even Indonesia’s small neighbor of East Timor had managed to accumulate a Petroleum Fund of USD 17 billion.
“Maybe there will be to the possibility of collecting energy-security funds from business entities who are engaged in the non-renewable energy sector. This may be a solution so that all of our objectives can be achieved. As a consequence, the government should offer more lenient margins to business entities through regulation,” Mr. Said concluded.
(rfs/sp)