Effectively promoting greenhouse gas storage in Australia

Abstract

The underground storage of greenhouse gases is seen by many as one of the primary technologies by which fossil fuel dependent nations can reduce their greenhouse gas emissions. Consequently there is a societal need to consider how best to facilitate the commercial scale uptake of this technology.

Two principal barriers remain to the commercial scale deployment of greenhouse gas storage. Existing capture technologies are very expensive and there remains community concern that the underground storage of greenhouse gases is not permanent.

It is likely that the natural gas industry will continue to be world leaders in the commercial-scale deployment of greenhouse gas storage, as this industry already captures large volumes of carbon dioxide and is familiar with underground storage technologies. In time, increased commercial scale deployment by the natural gas industry will build community confidence in the technology thus facilitating deployment by other industry sectors.

Opportunities to promote greenhouse gas storage in Australia need to be considered in the broader policy context, which should be to reduce Australia’s greenhouse gas emissions at the lowest possible cost to the community. This extended abstract reviews the various ways in which greenhouse gas storage can be promoted and tests these in light of this broader policy context. The paper identifies those opportunities that should be pursued to promote the commercial scale uptake of greenhouse gas storage and flags those opportunities that, while they might assist in the uptake, are incompatible with the broader policy objective.