Australia, and indeed the international community, does have a long way to go to making our emissions reductions aims achievable, while maintaining safe, sustainable and secure energy supply.
CO2CRC will continue to highlight the critical role of carbon capture, utilisation and storage (CCUS) in achieving this. As CSIRO noted in its excellent report this month, Australia has significant carbon sequestration potential and the country must embrace the technologies if our ambitious climate targets are to be met.
Appropriately, there is great enthusiasm for renewable energy investment to help meet those targets, and it will of course play a significant role in the transition to a clean energy future. But with fossil fuels still accounting for 80% of the world’s energy consumption, CCUS has a key role to play in carbon abatement and meeting emissions reduction targets.
CCUS has enjoyed bipartisan support in Australia since the Rudd Government first committed funding 15 years ago, and it is important that support continues. This year’s Budget pledged $140 million for a new Carbon Capture Technologies program, which will prioritise hard-to-abate sectors such as cement and accelerate carbon dioxide removal technologies such as direct air capture.
The government has made clear its view that industry must step up to deliver more CCS projects.
To that end, the just announced investment by Chevron Australia into CO2CRC’s research to improve CO2 storage processes is a significant step forward.
The $16 million research infrastructure funding will support the drilling of a new, deep well and installation and testing of novel technologies at our Otway International Test Centre.
The landmark funding lays the foundations for the planned Otway Stage 4 program, a multinational research program with leading researchers from Australia, United Kingdon, United States, South Korea and Japan.
It remains essential to maintain our international partnerships andCO2CRC continues to work with our partners to explore all possible avenues to get vital CCUS projects off the ground to assist the transition to a clean economy.
Alongside renewables and increasing investment in hydrogen and batteries, CCUS can make Australia a world leader in decarbonisation technologies and innovation. CO2CRC will continue our drive to advance the technology, lead in innovation and development, and highlight its vital role in supporting an orderly transition to a low emissions future.
We look forward to continuing those efforts in 2023, but for now we wish all our members, partners and supporters a safe and happy holiday season.
Dr Matthias Raab, CEO.
Chevron funding to boost CO2CRC research effort
Chevron Australia’s $16 million investment into CO2CRC’s research infrastructure will help improve CO2 storage processes in CCUS projects. The infrastructure funding will support the drilling of a new, deep well and installation and testing of novel technologies at the Otway International Test Centre.
The landmark funding lays the foundations for the planned Otway Stage 4 program, a multinational research program with leading researchers from Australia, United Kingdon, United States, South Korea and Japan.
CCUS Fundamentals 1 day course – February 2023
CO2CRC is Australia’s leading research organisation in Carbon Capture, Utilisation and Storage (CCUS). CO2CRC are offering a full day CCUS Fundamentals course aimed at providing targeted knowledge exchange on all things CCUS to upskill you or your team in CCUS.
Sign up for our next available date: 14 February
Energy Transition News
19/12/22 –Hydrogen, biogas and carbon capture: Inside Macquarie’s Green Investment Group (afr.com)
Head of Macquarie’s Green Investment Group (GIG) Mark Dooley name-checks hydrogen, biogas and carbon capture as areas GIG is keen to move into.
13/12/2022 –Inpex and Jogmec team up on offshore CCS Down Under | Upstream Online
Japan’s Inpex, which operates the Ichthys liquefied natural gas project in Australia, and compatriot Japan Organization for Metals and Energy Security (Jogmec) are studying the potential for the offshore Bonaparte basin to be a world-class carbon storage hub.
12/12/22 – CCS permits outshine Australia petroleum acreage offerings | Upstream Online
Australia’s offshore petroleum licensing round for 2022 was launched in August and then subsequently eclipsed by the success of the country’s offering of offshore blocks for carbon dioxide storage.
12/12/2022 – CSIRO report highlights Australia’s significant carbon sequestration potential (afr.com)
Australia has significant carbon sequestration potential and the country must embrace the technologies if ambitious climate targets are to be met, the CSIRO has concluded.
4/12/2022 –Energy giants Chevron, Woodside and AGL seek to cut emissions red tape | The Australian
We would also like to see any Safeguard Mechanism changes providing policy enablement and incentivisation for carbon abatement efforts such as Carbon Capture Utilisation and Storage.
4/12/2022 –CO2 storage resources and their development – Analysis – IEA
Carbon capture, utilisation and storage (CCUS) technologies are an important solution for the decarbonisation of the global energy system as it proceeds down the path to net zero emissions.
30/11/2022 –Pilot Energy makes headlines as first in Australia to formally seek approvals for offshore CCS project
Pilot Energy and partner Triangle Energy have notched the major milestone of becoming the first in Australia to lodge a submission seeking regulatory approvals for an offshore CCS project under legislation that has been in place since 2006.
30/11/2022 –ExxonMobil, Mitsubishi Heavy Industries Form Carbon Capture Technology Alliance
ExxonMobil and Mitsubishi Heavy Industries (MHI) have joined forces to deploy MHI’s leading CO2 capture technology as part of ExxonMobil’s end-to-end carbon capture and storage (CCS) solution for industrial customers.
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