Free Standard AU & NZ Shipping For All Book Orders Over $80!
Register      Login
The APPEA Journal The APPEA Journal Society
Journal of Australian Energy Producers
RESEARCH ARTICLE (Non peer reviewed)

The Australian CCS roadmap – a reflection on lessons learned and considerations for future success

Jerome Paz
+ Author Affiliations
- Author Affiliations

Xodus Group, Cheapside, London, UK. Email: Jerome.paz@xodusgroup.com

The APPEA Journal 61(2) 458-462 https://doi.org/10.1071/AJ20204
Accepted: 25 March 2021   Published: 2 July 2021

Abstract

With the announcement of the Australian government’s technology roadmap ‘out of COVID’, we are on the cusp of potentially the next wave of carbon, capture and sequestration (CCS) project development. To date, Australia has just one operational large-scale CCS project. Before Australia embarks on a potential new wave of CCS developments, reflection on successes and the lessons learned both domestically and in a global context is required. Xodus has reviewed a range of CCS projects, taking into consideration project type, government policy, investment and country energy mix. From this, Xodus has assessed what is needed to enable deployment of large-scale CCS projects.

Keywords: CCS, emissions, energy transition, Australia, policy.

Jerome Paz is a Junior Geoscientist and Commercial Analyst working for Xodus Group’s Advisory team in London. He obtained a BComm (Finance) and BSc (Applied Geology) with Honours from Curtin University in 2017. Prior to joining Xodus in 2020, Jerome has worked in both technical and analyst positions across an investment bank, E&P and service companies.


References

ABC News. (2019). Australia’s Emissions Reduction Fund is failing to deliver, government data shows. ABC News, 16 June. Available at https://www.abc.net.au/news/2019-06-17/australian-emissions-reduction-fund-data-analysis/11164476?utm_source=abc_news_web&utm_medium=content_shared&utm_content=link&utm_campaign=abc_news_web

ABC News. (2014). Carbon tax: a timeline of its tortuous history in Australia. 10 July. Available at https://www.abc.net.au/news/2014-07-10/carbon-tax-timeline/5569118

Browne, B., and Swann, T. (2017). Money for nothing. The Australian Institute. Available at https://australiainstitute.org.au/report/money-for-nothing/

CCWA. (2019). Runaway train: the impact of WA’s LNG industry on meeting our Paris targets and national efforts to tackle climate change. Conservation Council of Western Australia.

DISER. (2020a). Australian electricity generation. https://www.energy.gov.au/data/australian-electricity-generation-fuel-mix

DISER. (2020b). ‘Technology Investment Roadmap Discussion Paper’. (Australian Government: Canberra.)

Financial Times. (2021). UK energy market faces ‘instability’ over carbon trading delay. 24 February. https://www.ft.com/content/84c7d523-3a5e-4bfc-9933-f09c9c4e8614

Global CCS Institute. (2020a). Global Status of CCS 2020. Global CCS Institute.

Global CCS Institute. (2020b). The US Section 45Q Tax Credit for Carbon Oxide Sequestration: An Update. Global CCS Institute.

Macdonald-Smith, A. (2017). Technical hitches delay Gorgon carbon disposal project. Australian Financial Review. Available at https://www.afr.com/companies/energy/technical-hitches-delay-gorgon-carbon-disposal-project-20171220-h07t0w

Macdonald-Smith, A. (2020). Gorgon CCS: 3 m tonnes of CO2 and counting. Australian Financial Review. Available at https://www.afr.com/companies/energy/gorgon-ccs-3m-tonnes-of-co2-and-counting-20200925-p55z9k

MIT. (2016). Australia’s CCS Financing Overview. https://sequestration.mit.edu/tools/projects/australia_ccs_background.html.

Santos Ltd. (2018). Santos Cooper/Eromanga Basins CCUS. DEM 2018 Oil and Gas Roundtable. Santos Ltd.

Santos Ltd. (2020). ‘Santos.com. Moomba carbon capture and storage injection trial successful. 22 October. https://www.santos.com/wp-content/uploads/2020/10/201022-Release-Final-carbon-capture-and-storage-injection-successful-.pdf.

Smith, L. (2017). UK Government spent £100 m on cancelled carbon capture project. BBC.

State Ministerial Statement. (2009). Gorgon Gas Development Revised and Expanded Proposal: Barrow Island Nature Reserve.

Victoria State Government. (2020). The CarbonNet Project. 26 November. Available at https://earthresources.vic.gov.au/projects/carbonnet-project

Yahoo Finance. n.d. ASX and S&P stock market historical data.