A word from the CEO
CCS is ready to play a bigger role
While sceptics remain, there are growing signs that the time for large scale development of CCS is approaching.
The US, Europe and leading Asian economies are acknowledging CCS as essential to their decarbonization efforts and momentum is building in Australia too.
Some will question that, pointing to a long list of projects that have been in the feasibility phase for some time. CO2CRC and CO2Tech have a clear role to play in securing CCS project rollout by providing expert advice to members and clients.
At a glance 19 CCS projects have been proposed for Australia, many for a number of years. Only one project Gorgon is operational, and Moomba is on the way. However, another 17 projects progressing through the feasibility stage.
The question of when these projects will start to move to construction is a reasonable one – and demands a response.
One issue has been a lack of certainty on the overall policy settings to deliver carbon abatement. The Albanese Government is moving to address this. The legislation of 2030 and 2050 emissions targets, the Safeguard Mechanism and the acceptance of the Chubb Review’s recommendations of carbon markets are big steps forward and should set the scene for investment.
But still there is the question of how long it takes to permit a project.
This is a big focus of CO2CRC and the reason we launched our regulatory affairs taskforce last year.
Some also claim that a decline in use of fossil fuels for power generation is narrowing the window where CCS will be required.
While we are seeing the accelerating closure of coal-fired power plants in Australia, the extent to which gas supports the transition to renewables probably means the fuel plays a role in electricity generation and domestic application for decades to come. And to supply the lowest carbon gas demands CCS.
Glencore’s CTSCo project in Queensland could store over 100,000 tonnes of CO2 a year, and is currently awaiting environmental approvals – but all indications are that it will be the only Australian CCS project directly linked to coal.
The key point is that the coal story is very different in Asia where it will be a major part of the energy mix for decades and must be matched with carbon capture and storage.
The lack of storage solutions in the region may well mean that Australia’s geology, technology, skills and prospective infrastructure have a major role to play.
CCS also has a critical role for hard-to-abate sectors and negative emissions technologies like Direct Air Capture.
With industry committed to moving forward and more efficient permitting and regulation in prospect, CCS should be set to lead the way in Australia’s and the region’s emissions reduction efforts.
CO2CRC is committed to making that happen.
Over the past 18 months, we have made several strategic appointments to strengthen our strategic and technical leadership. Our Chief Scientist Dr Geoff O’Brien joined in 2022 Techno-Regulatory Advisor Dr Simone De Morton, and Program Manager for CO2 Storage Dr Lawrence Meckel, are also playing key roles – together with all other members of CO2CRC’s operations team.
We have exceptional competence across the CCUS value chain, from thought leaders, major project assessors, title administrators, leading technical experts, distinguished scientists, and engineers to oilfield services experts. Two of our distinguished scientists were recipients of the 2007 Nobel Peace Prize as part of the Intergovernmental Panel on Climate Change.
Next month’s APPEA Conference in Adelaide – where we will have a bigger presence than ever – gives us the chance to highlight our role. We are also holding an important Carbon Capture and Storage Roundtable to be held in Adelaide at 2pm on the Monday afternoon prior to the opening event of the Conference. Along with our members, DCCEEW, DISR, NOPTA and NOPSEMA, we have invited Resources Minister Madeleine King to open the session.
We look forward to meeting members, clients, and anyone interested in CCS at our booth and in various conference events.
I hope see you there.
Dr Matthias Raab, CEO.
CO2CRC’s Strong Presence at APPEA
If you are attending AAPEA in Adelaide next month, CO2CRC is planning its biggest presence yet with three of our expert staff speaking at the event and our skilled team of CCUS specialists attending our distinctive booth throughout the conference. Please feel welcome to call over and talk to one of our friendly scientists and engineers who’ll be able to answer all your modelling, regulatory and operational carbon capture and storage queries. We encourage all CCUS questions and are happy to discuss how our services company CO2Tech can assist you with your specific CCUS requirements.
See you there!
Symposium Sponsorships Now Available
CO2CRC‘s Symposium is Australia’s leading Carbon Capture, Utilisation and Storage event. With a host of local and international expert speakers, this symposium is the ultimate destination to reach a spohisticated niche energy audience and network with leading speakers from industry, government, and research. Contact Justin Thompson today to discuss sponsorship opportunities.
Energy Transition News
06/04/23 ‘Power handed to Greens’: Santos CEO goes on attack – AFR Santos CEO Kevin Gallagher has laid into the Albanese government and the federal Coalition for “handing power to the Greens” in the final design of the safeguard mechanism, which he says has escalated sovereign risk in Australia. 10/04/23 Safeguard changes to kick forward carbon capture – AFR The changes to the safeguard mechanism negotiated by the Greens are expected to give a boost to carbon capture and storage projects, but gas industry leaders say the controversial technology is still not getting the government backing it needs. 11/04/23 World Energy Council sees role for gas in green transition – Australian Herald Natural gas will be a critical component in the world’s transition to new energy sources, the secretary general and CEO of the World Energy Council, Angela Wilkinson, has argued. 17/04/23 Australia needs to attract $400bn for energy investment – AAP Australia will miss its climate targets unless it can attract more than $400 billion in new energy investment, the federal government has been warned. Clean Energy Investor Group modelling shows scenario planning for the national electricity market won’t be consistent with growing global ambitions to limit global warming to 1.5C.
17/04/23 Climate Change Authority report calls for CCS support – Resourcesreview.com.au The importance of carbon capture and storage (CCS) to reaching net zero has been highlighted in a new Federal Government report calling for more support for the technology. The report, published by the Climate Change Authority (CCA), contains 23 policy insights as part of a ‘deep dive’ designed to help policymakers, emitters and markets better understand how sequestration can be scaled up, accelerated, and used responsibly. 19/04/23 Net zero means doubling gas-fired power: study – AFR A major net-zero report by the universities of Queensland, Melbourne and Princeton in the US says Australia may also need to triple national electricity generation by 2030. 19/04/23 Biden EPA to issue power plant rules that lean on carbon capture – Reuters The U.S. government may soon require natural gas-fired power plants to install technology to capture carbon emissions, sources said, as President Joe Biden’s administration enacts new rules to help decarbonize the power sector in 12 years. 25/04/23 Carbon capture key to the energy transition – The Australian (Matthias Raab) The at-times divisive public debate over our energy transition is well into its second decade, but there is widespread industry, community and political support for action to meet mid-century net zero targets. The challenges of reaching those targets are also widely acknowledged, but too often, participants in the energy debate are too narrowly focused on promoting or defending their preferred solution.
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