Oil and fuel firm Santos is on monitor to fee its carbon seize and storage (CCS) facility at Moomba in South Australia subsequent 12 months.
The mission is about 60 per cent full with the upcoming arrival of a compressor and turbine, thought-about two of essentially the most important parts.
Santos Energy Solutions president Brett Woods mentioned the Moomba CCS facility can be the beginning of a brand new business, with carbon-abated fuel opening potential new income streams.
“Moomba CCS will help Australia reach net zero. Once complete, the project will support Santos to reduce our own emissions but crucially, we’re also working with other hard-to-abate sectors to look at ways of using Moomba CCS to help reduce their emissions, too,” Mr Woods instructed reporters on Monday.
Santos expects to inject the primary carbon dioxide into depleted reservoirs at Moomba in 2024.
The facility could have the capability to retailer as much as 1.7m tonnes every year utilizing the identical geological formations that beforehand held oil and fuel.
Mr Woods mentioned demand for such providers was sturdy with 30 CCS tasks in operation around the globe storing greater than 42m tonnes every year.
“Increased deployment of CCS is critical to achieve the world’s climate goals,” he mentioned.
“Santos’ progress on CCS reaffirms our strategy and our commitment to delivering emissions reduction solutions for our own operations as well as that of our customers, and third parties.”
Source: www.perthnow.com.au
