A word from the CEO.
Welcome to the September edition of the CO2CRC Insights Newsletter.
There has been no shortage of news in the energy and climate space in Australia and around the world, and that looks set to continue for years to come.
Locally, as the Albanese Government maps its way forward with legislated emissions reduction targets and new offshore gas assessment permits, the challenge continues to educate decision-makers and the general public alike about the realities of the energy transition and the future use of fossil fuels.
Fossil fuels still account for more than 80% of global energy consumption, and it is almost impossible to imagine the investment required to replace fossil fuels with renewables taking place in time to meet the 2050 target, let alone our 2030 goals. We need to recognise the slow rate at which energy transitions have occurred in the past.
But capturing carbon dioxide from intense and highly concentrated sources, or, in the future, directly from the air and permanently sequestering its emissions makes the task easier and allows for a far more nuanced energy transition. Alongside renewables and increasing investment in hydrogen and batteries, CCUS can make Australia a world leader in decarbonisation technologies and innovation.
CCUS can make many fundamental pillars of our economy sustainable: fertiliser for food security, cement and steel, hydrogen production.
Australia has the world’s largest CCS project in operation and 10 large scale projects in feasibility or planning stages around the country. Chevron’s giant Gorgon CCS project in WA has successfully stored 5 million tonnes of CO2 since commencing operations in 2019 and is now injecting 4 million tonnes a year.
That’s why we are calling on the new Federal government to continue to strongly support CCUS projects and innovation to reach their ambitious 2030 and 2050 emission reduction goals.
Of course, just as climate change is not constrained by international borders nor should our efforts to combat it. That’s why it is critical we continue to build CO2CRC’s global network of members and partners. To that end, it is my great pleasure to announce that two new members have joined CO2CRC this month, Africa’s Sahara Group and INPEX from Japan. You can read more about our new colleagues in this newsletter.
Matthias Raab, CEO.
Otway Stage 3 – Complete
CO2CRC’s Otway Stage 3 project was conceived in 2012 to develop a monitoring and validation capability that was cost-effective, high-resolution, on-demand and non-invasive.
The main objective was realised and demonstrated through the application of the monitoring modalities of downhole seismic and pressure tomography, with other techniques such as pressure inversion, earth tides analysis and passive seismic acquisition also demonstrating value.
In April 2021, after years of planning, modelling and design, a significant site upgrade and 15,000 tonnes of CO2 injected into the Paaratte saline aquifer, the project has concluded and has achieved all its objectives.
New members extend CO2CRC reach
CO2CRC continues to build our global network of members and partners, with two new members joining the organisation this month. Africa’s Sahara Group and INPEX from Japan extend both our geographic reach and experience base.
Already a world leader in carbon capture, utilisation and storage research, CO2CRC is forming deeper international ties to advance the implementation of CCUS technologies.
Sahara and INPEX are major energy and infrastructure conglomerates committed to reducing their emissions footprint and building more sustainable business models. Their membership of CO2CRC builds on our collaboration with leading national and international researchers alongside industry partners to accelerate commercial technology solutions.
INPEX is Japan’s largest exploration and production company and one of the leading LNG producers in the Asia-Pacific region with a pledge to be net-zero by 2050.
Sahara is meeting the significant challenges of producing energy for the African continent while striving to reduce emissions
CO2CRC CEO, Matthias Raab welcomed INPEX and Sahara to the organisation.
“We are delighted to have such a strong industry leaders join CO2CRC and contribute to our research and development program,” Dr Raab said.
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
Bowen calls Greens’ bluff on carbon rules, gas demands
Energy and Climate Change Minister Chris Bowen has effectively told the Greens he will not be held ransom by demands to turn a key emissions reduction mechanism into an anti-gas crusade, with the most material changes to be done by regulation. (AFR)
Woodside aims for near zero methane emissions by 2030
Woodside has become the first Australian company to pledge to strive for near zero methane emissions by 2030 as environmental pressure grows. (AFR)
UK’s first CO2 storage round attracts bids from 19 companies
19 companies have applied to develop CO2 storages off Britain in the country’s first such licensing round, according to the North Sea Transition Authority. Britain aims to use CCS technology to hold 20 million to 30 million tonnes of CO2 by 2030. (Reuters; Offshore)
Opinion: IEEFA report critical of CCS – but it presents a misleading picture
Blog review of a recent critical report published by the Institute of Energy Economics and Financial Analysis, which poured considerable scepticism on CCS as a viable mitigation option – saying the report presents a misleading picture. (IEAGHG)
China has built 14 overseas coal plants since vowing no new ones
(China) A year after President Xi Jinping promised China would stop building coal power plants overseas, the country has completed 14 such facilities beyond its borders and will finish another 27 soon, according to a new report. (Mining)
‘No time to lose’ in race to meet Australia’s hydrogen potential
Australia will be one of the most competitive markets on the planet for the production of clean hydrogen but has “no time to lose” if it wants to carve out a space in the changing world of energy trade flows, according to McKinsey’s global head of hydrogen. (AFR)
Carbon capture and natural gas to fuel Australia’s net zero emission targets, says APPEA boss Samantha McCulloch
Australia must not miss out on the global rush to carbon capture projects, the head of the Australian Petroleum Production & Exploration Association warns, saying they are crucial to meeting net zero emissions targets. The APPEA head, who joined the organisation after running CCUS at the International Energy Agency, also says natural gas will fuel emission reduction strategies. (The Australian)
Opinion: Matthias Raab: WA’s transition to a low emission future must involve carbon capture (The West Australian)
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