Carbon capture utilisation and storage (CCUS) and hydrogen will be essential components of the energy mix for the world to meet its net zero emissions ambitions while continuing to advance economic development and Australia is well placed to be a world leader in both fields, according to CO2CRC Chief Executive, David Byers.
CO2CRC welcomes today’s major announcement from the Prime Minister and Energy and Emissions Reduction Minister of $565.8 million for a series of new international low emissions technology partnerships on top of yesterday’s significant announcement of $539.2 million to support development of four new clean hydrogen hubs and additional CCUS projects, hubs and technologies.
Mr Byers today said Australia is in a unique position as a global technology leader and energy producer. The announcements mark an exciting new phase in positioning Australia at the forefront of clean energy supply to the world.
“Using clean hydrogen as a source of energy has gained considerable traction. While technologies for green hydrogen generation are progressing fast, they are not yet cost competitive. The vast majority of commercially produced hydrogen is likely to be generated from gas and coal for years to come. When coupled with CCS, hydrogen production from gas and coal is emissions free,” Mr Byers said.
“Industrial scale CCS projects already reduce significant amounts of carbon emissions around the globe. This includes the Chevron-led Gorgon LNG project in Western Australia, which has permanently removed and stored underground, four million tonnes of carbon dioxide since August 2019,” he said.
Mr Byers said that we are fortunate in Australia to have internationally recognised expertise in CCS, well-suited sedimentary basins for geological carbon storage, and the natural resources required to create low-cost clean energy including clean hydrogen at scale. Today’s announcement in support of developing international technology partnerships to co-fund research and demonstration projects in areas under the Australian Government Technology Investment Roadmap will leverage that natural advantage.
“Today’s announcement is a serious demonstration of Australia’s commitment to leading international collaboration on delivering technology-driven solutions for the great global challenge of supplying more and more energy while cutting emissions. Working with trading partners such as the United States, the UK, Japan, Korea, Singapore and Germany on this shared goal is definitely the way forward.
“Through our world class Otway International Test Centre, CO2CRC is at the forefront of delivering CCUS technology solutions with the potential to contribute to Australia’s successful energy transition and deliver on our emissions commitments.
“Working in collaboration with research institutions, industry and governments around the world, CO2CRC is a leader in CCUS research and is making advances in the development of technology for use in Australia’s growing hydrogen industry.
“For example, we’re currently working on the J-Power-led hydrogen energy supply chain pilot project in the Latrobe Valley and Port of Hastings. A commercial phase HESC Project combined with CCS through Victoria’s flagship CarbonNet project, would produce clean hydrogen at low-cost for domestic and export markets.
“CO2CRC, together with CSIRO, is also researching storing hydrogen underground, a vital component in accommodating supply and demand shifts in an emerging clean hydrogen economy.”
Mr Byers said the new funding announced by the Prime Minister and Energy and Emissions Reduction Minister this week was vital in supporting similar projects to get off the ground, proving new and emerging technologies at scale and producing them cost effectively for application in countries throughout the world.
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Roy Anderson 03 8595 9600 email@example.com