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Concurrent 9. Oral Presentation for: The framework and practice of CO2 storage resources evaluation: Santos Moomba CCS Project CO2 storage resources assessment

Tony Zhang A *
+ Author Affiliations
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A GaffneyCline and Associates Pte Ltd, Singapore.

* Correspondence to: tony.zhang@gaffneycline.com

The APPEA Journal 63 - https://doi.org/10.1071/AJ22329
Published: 2 June 2023

Abstract

Presented on Tuesday 16 May: Session 9

Carbon capture and storage (CCS) is an essential climate technology for achieving net-zero and carbon neutrality towards mid-century. CCS has been included in many countries’ long-term climate change strategy, including Australia’s. In November 2021, Santos and its JV partner announced a final investment decision to proceed with the US$165 million (A$220 million) Moomba CCS Project in South Australia, with start-up expected in 2024. The project is expected to store 1.7 million tonnes of CO2 each year in depleted hydrocarbon reservoirs. As a low-cost early mover project, Santos forecasted a full lifecycle cost of less than US$24 per tonne of CO2 including cash costs in operation of US$6–8 per tonne of CO2. GaffneyCline carried out an audit of Santos’ estimates of storage resource and reserve, and reported the audited quantities according to the Society of Petroleum Engineers (SPE) CO2 Storage Resources Management System (SRMS) for the project. An SRMS assessment comprises three main factors: Injectivity, Storage, and Containment. For the most mature classification of Capacity, SRMS also includes an assessment of commerciality. This paper will discuss the SRMS evaluation process for the Moomba Project, both the technical assessment and commercial assessment (including revenue from Emissions Reduction Fund). With the growing deployment of CCS, it is reasonable to expect that stock exchanges, investors, and governments will have increasing demand for storage resources data reporting and auditing. This paper will discuss implications for public and private institutions.

To access the Oral Presentation click the link on the right. To read the full paper click here

Keywords: Australian Carbon Credit Units, carbon capture and storage, CCS cost, climate change, CO2 storage resources management system, containment, injectivity, storage.

Tony Zhang is the Head, Carbon Management & Energy Transition – Asia Pacific for GaffneyCline, based in Melbourne. Tony has around 15 years of experience advising governments, IOCs, NOCs, industrial emitters (steel, cement, fertiliser, etc.), power companies, and financial institutions regarding CCUS and climate change matters. After finishing his PhD, he started his career as a research fellow on technology development and commercialisation. His recent roles include Senior Technical Adviser and Business Development Lead with the Global CCS Institute and Team Leader (consultant) with the Asian Development Bank supporting ADB technical assistance projects in developing nations. He has been a strong advocate of strategic partnerships in decarbonisation across the supply chain.