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    Australia to explore offshore carbon storage areas

Summary

The 2021 Greenhouse Gas Storage Acreage Release will provide companies the opportunity to explore for offshore greenhouse gas injection and storage locations.

by: Shardul Sharma

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Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Carbon, News By Country, Australia

Australia to explore offshore carbon storage areas

The Australian government on June 16 called for nominations of areas for the 2021 Greenhouse Gas Storage Acreage Release, covering Commonwealth waters across Australia.

The release will provide companies the opportunity to explore for offshore greenhouse gas injection and storage locations. Minister for resources, water and Northern Australia Keith Pitt said the 2021 Greenhouse Gas Storage Acreage Release was a key component of the government’s strategy to support Australia’s resources sector and aid transition in global decarbonisation efforts.

“Carbon capture, use and storage projects will play an integral role in helping cut emissions, whilst supporting Australian industry and creating jobs,” Pitt said. “The coalition government is keen to accelerate the development of projects and offshore greenhouse gas storage offers a perfect investment opportunity.”

The 2021 Greenhouse Gas Storage Acreage Release will allow the initial exploration and scoping necessary for the industry to take long-term investment decisions in this critical field, he said.

All areas in the 2021 Greenhouse Gas Storage Acreage Release are based on industry nominations and will be subject to a comprehensive public consultation process.

The Australian government on June 15 opened bidding for the 2021 Offshore Petroleum Exploration Acreage Release.