b'Canberra observed There is nothing about reducingKevin Gallagher said the project will alsoby the Gorgon LNG facility, or around emissions from fossil fuels, providingbe one of the lowest-cost CCS projects in4Mt a year, and CCS was one of the key incentives for people to change to electricthe world at A$25-30 per tonne. conditions for state government approval or hydrogen driven cars, or a road mapto develop the gas fields.to get to zero emissions by 2050. In fact,If CCS is going to work successfully, the last 15% reduction needed to achieveMoomba is as good a site as it gets.Chevron conceded that it had missed its the net zero goal depends on newThe geology is well known. The area istargets and was now in discussions with technologies not yet known. It is a bit likecrossed by hundreds of kilometres ofthe WA Government about how it could the old Papua New Guinea cargo cult. seismic lines and the Cooper Basin ismake good its failure to deliver on the still producing gas. Let us hope it will beexpected storage of CO 2 . Apparently, At least the Minister Angus Taylor wasmore successful than Chevrons Gorgonsand clogging parts of the storage honest when he said, As long as there areCCS project on Barrow Island in Westernsystem was one of the main causes for buyers for our coal, we will keep selling it. Australia. not meeting the storage targets (https://In many ways the two projects are similar.reneweconomy.com.au/chevron-concedes-Moomba is a bright spot ccs-failures-at-gorgon-seeks-deal-with-wa-Both structures were found quite earlyregulators/).Santos and its project partner Beachin the search for oil in Australia and both Energy have been awarded a A$15Mlook very suitable for sequestering CO 2 .Carbon Capture and Storage has, so far, grant from the Australian GovernmentsChevron announced earlier this yearnot been as successful as expected. A lot Carbon Capture Use and Storagethat it had it had finally succeeded independs on the Gorgon and Moomba Development Fund towards thesequestering 5 Mt of carbon dioxide at itsprojects, because these locations should development of the ~A$210M MoombaCCS facility on Barrow Island. Althoughbe very good for sequestering CO 2 . If it Carbon Capture and Storage (CCS)this as a significant milestone, it fallsdoes not work at these sites, the strategy project. The plan is to permanently storeshort of what was promised to regulatorsof using this technique to reduce 1.7 Mt of carbon dioxide (CO 2 ) per yearwhen the massive A$70B LNG projectgreenhouse gases may not progress.with capacity for up to 20 Mt annuallywas first announced in 2009. The project across the Cooper Basin. Santos Chiefis supposed to be capable of storing atWe wish Chevron, Santos and Beach Executive Officer and Managing Directorleast 80% of the carbon dioxide producedwell we need CCS to work.DECEMBER 2021 PREVIEW 28'