WHAT IS CARBON CAPTURE AND STORAGE?
* Greenhouse fuel emissions could be trapped and injected underground for everlasting storage, together with into depleted oil and fuel wells
* Carbon seize and storage, or CCS, is meant to cut back emissions that may in any other case be launched to the environment
* Proponents say new tasks wouldn’t stack up financially with out carbon credit generated by the confirmed expertise
* Opponents say the contentious expertise is expensive, does not work on the fee promised and shouldn’t be an excuse for brand spanking new developments
HOW DOES CCS EARN CARBON CREDITS?
* Under federal rules, the CCS mission should contain a brand new supply of greenhouse gases captured for everlasting storage
* The mission have to be carried out solely in Australia, together with the carbon seize services, pipelines and the storage web site or websites
* Within Australia means a mission that takes place onshore or offshore inside state, territory or commonwealth waters
* Carbon credit could be earned below the federal Emissions Reduction Fund for registered and permitted tasks
* Native title, environmental, main mission, emissions reporting and petroleum pipeline legal guidelines additionally apply
* Emissions could be captured from oil and fuel operations or an industrial course of resembling hydrogen manufacturing or electrical energy era
* A seize level consists of any plant, constructing, construction or fastened tools the place emissions are generated from an industrial course of
* For the oil and fuel trade, a brand new supply will also be a hydrocarbon subject utilizing an current processing plant that captures and separates carbon from the fuel stream
FOR HOW LONG?
* Many regulated strategies below Australia’s carbon credit score scheme permit for a crediting interval of seven years
* The regulator says a 25-year interval applies for CCS tasks to recognise the hefty prices
* There is a danger the abatement may very well be reversed and the injected emissions launched to the environment
* But the regulator says the chance of reversal is especially low in Australia, helped by robust authorized frameworks.
Source: www.perthnow.com.au
