Upscaling CCUS in Asia Pacific – a look at upstream synergy projects and potential for multi-user hubs
Antonio Dimabuyu A *A S&P Global Commodity Insights, Perth, WA, Australia.
The APPEA Journal 63 S371-S374 https://doi.org/10.1071/AJ22164
Accepted: 13 March 2023 Published: 11 May 2023
© 2023 The Author(s) (or their employer(s)). Published by CSIRO Publishing on behalf of APPEA.
Abstract
Carbon Capture, Utilisation and Sequestration (CCUS) has sustained its momentum as a key technology requirement for Asia Pacific countries to achieve reduced emissions and net-zero targets in the long term. Looking at the upstream E&P (Exploration & Production) industry and with gas being an integral part of the region’s energy mix, we are seeing companies assess integration of CCUS in key gas developments and take initial steps in creating multi-user storage hubs. Moving towards realising these projects however remains the main uncertainty with key legal, regulatory and fiscal incentive drivers required. International Oil Companies (IOCs), National Oil Companies (NOCs), independents and local companies are all participating, initiating partnerships and collaboration with other industries (for potential CO2 sources) towards integrated feasibility assessments and fast-track pilot projects. Focus CCUS projects between countries are also different, with a few leaning towards utilisation of CO2 through Enhanced Oil Recovery (EOR) and Enhanced Gas Recovery (EGR). Others look to establish more storage-related projects and hub creation. How each country has moved towards providing a solid regulatory framework and incentives to enable more commercial-scale CCUS projects is also different.
This presentation will aim to:
Compare CCUS projects, regulatory and incentive trends in Australia with those in key producing countries in Asia Pacific.
Look at emissions reduction and economic impact of CCUS in gas projects and what factors will drive further implementation and upscaling.
Provide perspective on hub potential for Australia and South East Asia. Compare and identify early successes, challenges and drivers in upcoming multi-user hub projects in Europe which we could learn from.
Keywords: Asia Pacific, capture capacity, carbon capture, carbon dioxide, CCS, CCUS, CO2, depleted field, emissions, hubs, saline aquifer, storage, upstream.
Antonio is an Executive Director at S&P Global Commodity Insights with over 20 years’ experience in the upstream energy industry. Currently he leads the Asia Pacific upstream research team working on E&P subsurface data, upstream valuation and market intelligence at S&P Global. He is also an expert in subsurface research for CCUS projects. Antonio started as an Asset Geologist for Chevron, working on geothermal exploration and development in the Philippines and Indonesia. He joined IHS Markit (now a part of S&P Global) in 2007, initially handling basin research prior to moving to a management role. He has been involved in various research, thought leadership and advisory projects covering Asia Pacific upstream and CCUS. Antonio holds a Bachelor of Science degree in Geology from the University of the Philippines. He is an active member of the South East Asia Petroleum Exploration Society (SEAPEX) and Petroleum Exploration Society of Australia (PESA). |
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