TEMPO.CO, Jakarta - Danantara Indonesia is partnering with U.S. technology company Latitude Energy to develop a coal gasification project in the country as part of an effort to strengthen energy independence and encourage the downstreaming of national resources.
The U.S. Embassy in Jakarta stated on Friday that the collaboration was marked by the signing of a Memorandum of Understanding (MoU) between PT Danantara Development Management Fund and Latitude Energy in Jakarta on July 8, according to ANTARA.
Through this partnership, the two parties will develop a coal gasification project using Transport Integrated Gasification (TRIG) technology to convert coal into synthetic gas.
PT Danantara Development Management Fund Chief Executive Officer Sigit P. Santosa said the partnership supports the Indonesian government's strategy of achieving energy independence by using low-calorie coal.
The TRIG technology to be implemented in the project is expected to create opportunities for Indonesia to produce synthetic gas domestically. This will reduce dependence on imports and create new opportunities for developing the national industry.
The Charge d'Affaires ad Interim of the U.S. Embassy in Jakarta, Joy M. Sakurai, assessed that trade and investment relations between the U.S. and Indonesia have enormous potential.
"The United States' advanced energy technologies can support energy security, industrial growth, and long-term economic prosperity for both countries," he said.
Latitude Energy Holdings Inc. President and Chief Executive Officer Jacob Thomas said Indonesia has a great opportunity to maximize its potential as one of the world's largest coal producers by using more advanced conversion technology.
Therefore, Latitude Energy is offering Danantara a long-term partnership that includes management support, technical expertise, and the necessary investment to build a scalable coal gasification platform. The company not only views Indonesia as its first market, but also as the starting point for developing coal gasification projects throughout Southeast Asia.
"By combining Indonesia's abundant domestic resources with Latitude's TRIG™ technology, the world's most advanced coal gasification technology, we are committed to bringing leading American technology to Indonesia, developing local capacity, and creating long-term value for Indonesia's downstream industry," Thomas said.
Read: Danantara: Tony Blair's Visit to Indonesia Signals Strong Investor Interest
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