Figure 1 Prof. Raphael J. Heffron presented the basics of international energy law. (Photo: Parulian Sihotang)
SKK Migas, in cooperation with the University of Dundee, hosted a public lecture given by Prof. Raphael J. Heffron on September 17, 2018, in City Plaza building. Prof. Raphael gave a two parts presentation on energy law. In his first presentation, Prof. Raphael presented the basic theory of energy law, including how important regulations are in the energy sector as it is a sector with huge capital and requires even more investments fund. Furthermore, a modification of energy law inside of a country will not only affect the country itself but could disturb the related global market as well. He also mentioned that the current paradigm in the energy sector is shifting from resources trade into carbon trade. After the Paris Agreement, in which 194 countries have signed up, low carbon economy plan is being implemented all over the world. Since carbon production in a country can affect another country, it is becoming more important to collectively reduce carbon emission by implementing global carbon trade policies.
In his second presentation, Prof. Raphael highlighted the importance of policy and regulation in order to attract more and more investment in the energy sector. With the shifting from fossil fuel to renewable energy, it is important to implement a policy which will support the development of renewable energy. With such policy in place, then it is expected to attract investors in allocating their trust in the renewable energy sector. In addition to the public lecture, a Memorandum of Understanding (MoU) Extension between SKK Migas and the University of Dundee was also signed during this event. The MoU extension is expected to facilitate scholars and researchers from both parties to continue their relationship in order to give policy recommendation for the improvement of Indonesia’s energy sector.