LETA Media • Low Emission Technology Australia Supports Government Investment To Uncover Storage Potential

08 May 2024

Low Emission Technology Australia Supports Government Investment To Uncover Storage Potential

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Low Emission Technology Australia (LETA) supports today’s announcement by Prime Minister Anthony Albanese MP and Minister for Resources, the Hon Madeleine King MP of an unprecedented investment into geoscientific research to understand the resource and storage potential of Australia’s regions.

Research by Geoscience Australia that identifies potential sites for the storage of carbon dioxide (CO2) is a crucial enabler to the deployment of Carbon Capture and Storage (CCS) technology at scale in Australia.

CCS is an essential component of Australia’s journey to net zero emissions by 2050. It is an established and proven technology that is currently being used to abate millions of tonnes of CO2 every year at sites around the world, including projects in Western Australia and Victoria, and Santos’ onshore Moomba CCS project that will soon enter operation in South Australia.

CCS has the potential to capture more than 95 per cent of CO2 emitted from industrial facilities and power stations and prevent it from being released into the atmosphere. Once the CO2 is captured it can either be transported to an injection site and stored permanently underground in both onshore and offshore geological formations or repurposed by industry.

“LETA welcomes increased investment into geoscientific research that will help us uncover the storage potential of Australia’s onshore and offshore regions,” said LETA CEO Mark McCallum.

“Around the world, Governments, including in the US, UK and EU, and major trading partners like Japan and Korea, are investing billions of dollars in CCS technologies to support decarbonisation efforts of large critical industries. Today’s investment announcement by the Prime Minister and Minister King is strong recognition of the importance of CCS in meeting our net zero targets and a welcome step in the right direction toward deploying this critical technology at scale in Australia.

“Deployment of CCS is the key to reducing emissions without abandoning the critical industries like steel, cement and power generation that are the backbone of Australia’s economy and deliver hundreds of thousands of Australian jobs.

“Like any technology, CCS deployment will take time, resources, commitment and strong leadership to develop and deploy at commercial scale, and each new generation of these technologies lowers the cost and increases its effectiveness.

LETA remains committed to collaborating with government, industry, and our international trading partners to further explore new technologies that will support Australia to reach net zero emissions while ensuring a future for the critical industries that support Australian jobs and households every day.


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