Companies of the oil and gas sector have partnered with researchers to consider co-developing an Australian offshore CO2 Capture and Storage Hub Project, called the deepC Store Project.
This project will consist of capturing CO2 from industrial sources in Australia and the Asia-Pacific region, shipping of liquid CO2 from capture sites to a CO2 Floating Storage and Injection (FSI) hub facility in offshore Australia, and a CO2 injection well for storage in a subsurface storage complex in close proximity to the FSI hub facility.
The goals of the deepC Store Project aim to align with the Australian government’s Low Emissions Technology Statement (LETS), with carbon capture and storage being identified as one of the five priority technologies and economic stretch goals to reduce emissions from energy, transport, agriculture and heavy industry.
MOL will also take part in the project, as Transborders Energy announced, in addition to several other partners.
With these MoUs, the parties will share information and knowledge in relation to the scoping and seeking funding for a concept study for evaluating the technical, commercial, and economics for developing the Project.
Transborders Energy Chairman Jack Sato said, “the execution of the MoUs, is a significant milestone towards developing an offshore multiuser CCS infrastructure for safely capturing, transporting and storing CO2 from LNG plants and other industrial plants in Northern Australia and Asia Pacific regions. This milestone also demonstrates industry’s willingness to collaborate and accelerate the decarbonization of the Australian oil and gas industry, and to contribute to Australia’s climate goals.”
CSIRO Researcher Dr. Linda Stalker, commented:
This project is strongly aligned to CSIRO’s role as Australia’s energy transition catalyst. Collaboratively accelerating geological storage of industrial emissions from both the oil & gas sector and hard-to-abate industries in Australia and the region will support our nation’s transition to net zero emissions