JBIC Renews MOU with Pertamina, National Oil Company of Indonesia
Promoting Collaboration between Pertamina and Japanese Companies in Clean Energy and Energy Resilience Sectors

• Region: Asia
• Infrastructures
• Environment

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) renewed today a Memorandum of Understanding (MOU) ^*1with Indonesia’s state-owned energy company, PT Pertamina (Persero) (Pertamina).
     
2. The MOU aims to promote collaboration between Pertamina and Japanese companies in such areas as renewable energy, hydrogen and ammonia, CCS^*2, as well as the decarbonization of existing plants, biofuels, and energy resilience-related businesses, through strengthened cooperation between JBIC and Pertamina.
     
3. Pertamina, an Indonesian state-owned energy company, has set out a policy to advance low-carbon businesses, including in the clean energy sector, while also focusing on projects that support the strengthening of energy resilience in the country, under the Indonesian government's target of achieving net-zero emissions by 2060 and its long-term vision. In addition, in its National Long-Term Development Plan (RPJPN) 2025–2045, announced in September 2024, the Indonesian government identifies energy self-sufficiency and a green economy as key priorities and is advancing initiatives related to the energy transition toward achieving net-zero emissions by 2060.
     
4. In the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward the integrated realization of carbon neutrality and economic growth, as well as the assurance of economic security. It also supports efforts toward global green transformation (GX) and energy transitions based on countries' diverse pathways to carbon neutrality. In April 2026, the Government of Japan announced the launch of the Partnership on Wide Energy and Resources Resilience Asia (POWERR Asia)^*3. The partnership aims to promote cooperation with Asian countries that share serious concerns, with a view to strengthening the resilience of supply chains for energy and critical materials, taking into account the current situation in the Middle East. Based on POWERR Asia, JBIC has added a new financial support window^*4 under the Japan Strategic Investment Facility. The renewal of the MOU aligns with JBIC’s Medium-Term Business Plan and new initiatives, as well as the policy of the Japanese government.
     
5. As Japan's policy-based financial institution, JBIC will continue to provide financial support to create business opportunities and promote business for Japanese companies in a variety of sectors, including decarbonization and energy resilience in Indonesia, by strengthening its relationships with the Indonesian government and Pertamina.
     

Note

1. *1 
   See Announcement on November 15, 2022.
2. *2 
   Carbon dioxide Capture and Storage (CCS) is a technology that separates and captures carbon dioxide that would otherwise become a greenhouse gas and stores it in deep waterbeds or geological formations.
3. *3 
   See the website of the Ministry of Foreign Affairs for further details.
4. *4 
   See Announcement on May 15, 2026.