Session 21. Oral Presentation for: Can Australia become APAC’s CCS hub of choice?
Stephanie Chiang A *A
Stephanie Chiang is an Analyst in Wood Mackenzie’s CCUS team based in Singapore. She provides insight and strategic analysis on the CCUS landscape to project developers, technology providers, investors, and governments. Her work involves tracking and analysing projects, building asset valuations, and interpreting regulations and policies in APAC. She is sought out for her insights on key industry topics. Prior to joining Wood Mackenzie in 2023, Stephanie spent 4 years at the Singapore Economic Development Board with a focus on driving industry decarbonisation in Singapore. She engaged key industry players in the energy and chemicals sectors, influenced government policies, and developed the business case for the government to support new technologies such as CCUS and chemical recycling. Stephanie holds a BA in Economics (Hons, Highest Distinction) from the Nanyang Technological University (Singapore). |
Abstract
Presented on Wednesday 22 May: Session 21
Carbon capture and storage (CCS) is critical in Australia for future production of lower-carbon natural gas for domestic use and international export. There may also be targeted applications in other sectors, such as electricity, industrial heat generation and manufacturing, but only a small portion of the country’s carbon dioxide (CO2) emissions are likely to be addressed with carbon capture. That leaves significant CO2 storage potential untapped. Wood Mackenzie’s analysis suggests that Australia’s CCS opportunity lies less in the reduction of domestic emissions, and more in enabling other countries’ net zero ambitions. This involves building hubs to transport and store CO2 at scale, using Australia’s vast geological resources. Such hubs are major capital projects and typically require billions of dollars of investment. However, supporting CO2 storage hubs with public funding may feel like a bitter policy pill to swallow, if there is not a large Australian emissions reduction number on the other side of it. So, why should Australia put its money towards this, and fast? In this paper, we will size the economic opportunity, benchmark Australia’s competitiveness with other aspiring hubs in the region and assess the amount of investment and policies required to get there.
To access the Oral Presentation click the link on the right. To read the full paper click here
Keywords: Asia-Pacific, Australia, carbon capture and storage, CCS, CO2 transportation, cost, cross-border, decarbonisation, depleted oil and gas field, emissions, energy security, energy transition, funding, gas and LNG, hub, Indonesia, Japan, Malaysia, policy and regulation, Safeguard Mechanism, saline aquifer, South Korea.
Stephanie Chiang is an Analyst in Wood Mackenzie’s CCUS team based in Singapore. She provides insight and strategic analysis on the CCUS landscape to project developers, technology providers, investors, and governments. Her work involves tracking and analysing projects, building asset valuations, and interpreting regulations and policies in APAC. She is sought out for her insights on key industry topics. Prior to joining Wood Mackenzie in 2023, Stephanie spent 4 years at the Singapore Economic Development Board with a focus on driving industry decarbonisation in Singapore. She engaged key industry players in the energy and chemicals sectors, influenced government policies, and developed the business case for the government to support new technologies such as CCUS and chemical recycling. Stephanie holds a BA in Economics (Hons, Highest Distinction) from the Nanyang Technological University (Singapore). |
