1. Why?
The LNP, & now, recently, the ALP Fed. govt., are both very supportive off trialling CCS (as are many geologists, physicists, engineers, other scientists etc.).
If successful, CCS will prolong the use of gas & coal for many decades- providing cheap, reliable, baseload power for much of the world; & CCS many be a huge &
profitable industry for Australia (inc. "rectifying" & storing other Asian countries CO2 emissions).
2.
Fed. Govt Resources Minister Madeleine King, at a Perth Conference today, will make further comments supporting:-. the crucial role of gas in Australia, "to 2050 & beyond", for energy security, cheaper energy, & to help with the renewable energy transition. Carbon Capture & Storage possible solutions for economically, safely, & permanently storing CO2 emissions.(Green groups, however, are expressing more furious opposition to both policies).Australia may become a carbon storage hub, also, for many Asian nations.Successful CCS will prolong fossil fuels usage for many decades.Santos & Chevron are also supportive, & presently using CCS.MSN/AAP M.Rae 21.5.24 saidThe new (Fed Govt., adopted 2 weeks ago- all my words) Future Gas Strategy locks in the energy source to 2050, and beyond, and embraced carbon capture and storage (CCS) to reduce the nation's carbon footprint while still selling gas to the world.
New sources of gas will be needed to meet demand during the energy transition, according to chair of the Australian Energy Producers organisation and Woodside Energy boss Meg O'Neill.
"Without action, the east coast of Australia faces projected shortfalls by 2028 and the west coast by 2030," she will tell delegates...
Yet the Moomba CCS project in South Australia, set up by Santos and Beach Energy, aims to store 20 million tonnes of carbon dioxide per year.
Chevron Australia already uses CCS at its LNG operations beneath Barrow Island in Western Australia to bring down its overall carbon footprint, but not as much as originally promised....
Regardless, Aussie "learnings" will be exported to the US to help Chevron roll out more CCS, according to Houston-based Chris Powers, vice-president of carbon capture, utilisation and storage (CCUS) for Chevron New Energies.
American taxpayers will stump up $US85 per tonne as a tax credit - unmatched by Australia - for developers wanting to use the technology in the United States.
There is also keen interest in plans for Australia to ship in carbon emissions from trading partners and pump it deep under the sea floor.
The 2024/25 federal budget allocated $32.6 million over four years to establish regulations and bilateral agreements for future carbon management services to the Asia-Pacific region.
International carbon transfer services from Korea, Japan and Singapore could make Australia a carbon storage hub.
'New energy economy' cooking with gas as bosses gather (msn.com)
(20min delay)