A word from the CEO.
Energy challenges grow as policy debate continues.
The global discussion on how to reduce emissions while maintaining energy security intensifies with every month that passes, and October has been no exception.
I am writing from Europe where this winter looms as a very challenging season for governments and their citizens alike. The disruption caused by Russia’s war on Ukraine has increased calls for a faster shift to renewables and other new energy forms, at the same time as highlighting how dependent developed nations still are on fossil fuels.
That was a clear theme at the International Energy Agency Greenhouse Gas Control Technologies conference in Lyon, France, and one reason why international interest in, and support for, carbon capture and storage is stronger than ever.
In that context, the Australian Government’s Budget decision last week to significantly cut financial support for carbon capture utilisation and storage was disappointing.
We note that there is still support for the hard-to-abate sector and carbon dioxide removal technologies such as direct air capture, but more support is needed for CCUS to play its role in meeting Australia’s net zero emissions goals by 2050.
We are concerned about the effect of CCS project-related Budget measures but remain committed to working with Government to advance development of leading edge CCUS technologies through our international partnerships and creating a climate where private investment in CCUS can grow.
CO2CRC has been dedicated to that task for almost 20 years and it remains our focus.
We continue to have access to industry-sourced infrastructure funding for the Otway International Test Centre (OITC) and we will work to align our research program for our Otway Stage 4 project in line with funding opportunities.
We are keen to maintain Australia’s leading role in CCUS innovation and leveraging its skilled workforce and technological and geological advantages to lower emissions across all sectors of the economy.
Since the Rudd Government 15 years ago, successive Federal Governments have positioned Australia as an innovation leader in this essential emissions reduction technology, and it is important that position is maintained.
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.
Matthias Raab, CEO.
IEA – GHGT-16
CO2CRC presented at the largest greenhouse gas technologies conference in the world, the IEA’s GHGT-16 conference in Lyon, France. The conference confirmed that the world recognises the essential role that CCUS plays in a net zero future.
– Sustainable Development with CO2 Utilisation to Fast-Track Developing World’s Transition to Carbon Negative Circular Bioeconomy: A Technical Assessment of Low-Cost Recyclable Prefabricated Homes in Pakistan
CEO Dr Matthias Raab presented at the morning Plenary on the last day of the GHGT-16 conference on how CO2CRC’s CCUS R&D breakthoughs support Australia’s energy transition towards net zero by 2050.
– The Otway International Test Centre – a world class test facility and the centrepiece of CCUS technology advancement in Australia and internationally for more than 15 years
– Otway Stage 3 – The project has evolved a range of novel monitoring methods from a bench top design to a full field demonstration, all informed by industry’s stated need for simpler, less costly, less invasive yet more frequent monitoring.
– Direct Air Capture (DAC) – The Otway International Test Centre has the potential to become a first of its kind DAC-CCS pilot test site
– Transboundary CCS – Not only can CCS cut Australian emissions, but it could benefit our Asian neighbours that do not have the same access to geological storage sites. Japan and South Korea, two of Australia’s strongest trade partners, are looking to Australia for solutions to deal with their CO2 emissions.
– CCS in Australia – Australia has the world’s largest CCS project in operation and 10 large scale projects in feasibility or planning stages around the country. Australia’s achievements in progressing CCUS technologies are highly regarded internationally
CCUS Fundamentals 1 day course – November
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: 22nd November
Energy Transition News
5/10/22 – 3 reasons why the future of carbon capture looks promising | World Economic Forum
Carbon capture will play a critical role in the energy transition, especially in heavy industries like power, steel, cement and oil and gas. Companies are embracing carbon capture’s potential and investing in this technology.
6/10/22 – Making CCUS work in Asia Pacific – Natural Gas World
Worldwide, the CCUS project pipeline for capturing carbon emissions is edging towards a billion tonnes of CO2 per annum. At the current rate of growth, CCUS capacity will come close to what’s needed for the 1.5 degree pathway to 2030. Across most of Asia Pacific it is a different story.
10/10/2022 – The six energy races Australia must win – AFR
The reality of delivering on the government’s new climate target was clear at the AFR’s energy and climate summit. Australia faces challenges in six key areas.
12/10/2022 – Beach Energy pushes carbon capture plan – theaustralian.com.au
Beach Energy will develop the next stage of its carbon capture and storage project in Victoria’s Otway Basin as momentum slowly picks up among Australian producers to embrace the technology fix to cut emissions.
17/10/2022 – Speech at the Asia Pacific Oil and Gas Conference, Adelaide | Minister Madeleine King
“Carbon Capture, Utilisation and Storage presents an opportunity to decarbonise Australia’s energy exports, particular gas processing, LNG activities and potentially hydrogen.”
18/10/2022 – Global Status of CCS – 2022 Report The annual Global Status of CCS report was released by GCCSI on 18 October indicating that the number of CCS projects globally has grown 44% in the past year.
20/10/2022 – Carbon Capture and Storage (CCS): The scale of the challenge | MarketScreener
In this article we examine the macro aspects of CO₂, taking a reality check on the scale of carbon emissions, the potential to deal with them, and permanent storage solutions.
25/10/2022 – Labor overhauls Australia’s climate spending in budget and sounds warning on future costs | The Guardian
Labor has revamped Australia’s response to climate change and environmental degradation, redirecting nearly $750m in Coalition commitments, including some spending on gas and carbon capture and storage.
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