Newsbase - Asia Oil & Gas News Montior Subscribe to download Archive

AsianOil: Australia awards permits for evaluation of CCS opportunities

The Australian government has awarded permits for companies to undertake evaluation and appraisal work for the potential storage of carbon dioxide (CO2) in the country’s waters.
On September 5, Santos announced that it had been awarded permits G-9-AP and G-11-AP to pursue carbon capture and storage (CCS) opportunities in the Carnarvon and Bonaparte basins, offshore Western Australia, alongside its joint venture partners.
Then, on September 9, Chevron said it was also participating in those two permits, as well as G-10-AP, in which it partners with Woodside Energy, BP, Shell and Japan Australia LNG, which is a joint venture between Mitsubishi and Mitsui & Co.
Both Santos and Chevron have talked up the potential of CCS to help with the decarbonisation of their projects, and of Australia more broadly.
“Under almost every scenario, CCUS is expected to be essential for meeting the net-zero ambitions of the Paris Agreement and is poised to play a crucial role in reducing carbon emissions in hard-to-abate, energy intensive industries such as LNG, refining, petrochemicals, power, steel and cement,” said Chevron’s vice president of CCUS, Chris Powers. “These and other ventures also have the potential to help generate higher returns and lower the carbon intensity of our own operations.”
Santos, for its part, noted that it was working towards developing a three-hub CCS strategy that spans its operational footprint in Australia and Timor-Leste.