Australia awards two offshore GHG storage areas
SUMMARY
The government said it will shortly finalise the award of all five new offshore greenhouse gas storage permits under the 2021 acreage release.
By Shardul SharmaPOSTED IN:
The Australian government has approved the first two new offshore greenhouse gas storage areas, minister for resources and Northern Australia Madeleine King said on August 24.
The permits are for a joint venture between Inpex, Woodside and TotalEnergies for area G-7-AP over GHG21-1 in the Bonaparte basin, and for Woodside for area G-8-AP over GHG21-3 in the Browse basin. Both the permits are located offshore northwestern Australia.
King said she will shortly finalise the award of all five new offshore greenhouse gas storage permits under the 2021 offshore greenhouse gas storage acreage release.
“Carbon capture and storage has a vital role to play to help Australia meet its net zero targets. Australia is ideally placed to become a world leader in this emerging industry, with large, stable offshore geological formations for greenhouse gas storage,” King said.
“The award of G-7-AP is one of two acreage permits awarded in the past eight years and will help make a Darwin carbon capture use and storage hub a reality. This directly supports development, job creation and economic security across Northern Australia,” she added.
The minister said she would announce the release of a 2022 offshore greenhouse gas storage acreage later this year.
“Australia has the capacity to continue to be an energy export leader, at the same time as developing a domestic offshore carbon capture and storage industry. CCS is a safe, key proven technology that can support the petroleum sector in its low carbon transition,” she said.
