20 Aug 2021
Conference highlights importance of CCUS on emissions reduction journey
The virtual Australian Carbon Capture Utilisation and Storage Conference was held this week from 18-19 August. The conference highlighted the development and opportunities of a carbon capture, utilisation and storage (CCUS) industry as an important step on Australia’s road to net zero greenhouse emissions.
The oil and gas industry is an essential service that provides more than half the world’s energy, and demand for gas is growing, particularly in developing countries, some of which suffer from energy poverty (for example, more than a billion people across the world are currently unable to access electricity).
As such, the tap can’t just be turned off overnight. Continued emissions reduction by the oil and gas industry is important in order to meet climate goals in line with the terms of the Paris Agreement. CCUS is a proven technology that is critical to accelerating emissions reduction while also enabling a large-scale industry capable of bringing new jobs and skills to Australians around the country.
APPEA Chief Executive Andrew McConville delivered a keynote address on the second day of the conference, entitled ‘Australian Gas Accelerating a Cleaner Energy Future’, where he discussed the outlook for natural gas as part of Australia’s energy mix and how it can be used to help Australia – and the world – get to net zero faster.
“The oil and gas industry contributes to all 17 of the UN’s Sustainable Development Goals and it is the fundamental key to all people having access to secure, reliable and affordable energy,” said Mr McConville.
“CCUS technology can help to deliver step-change emissions reduction across the world, and Australia has the right infrastructure, skills and geology to become a global leader in this field.”
The Australian Government announced in May that it would provide an additional $539.2 million in funding for CCS and hydrogen projects to the Federal Budget, establishing CCS as a priority technology in Australia’s Technology Investment Roadmap and a cornerstone of Australia’s emissions reduction journey.
CO2CRC Chief Executive, Dr Matthias Raab also highlighted the opportunities for CCUS in Australia during his keynote address at the conference. Speaking to APPEA, he said:
“Australia can be at the forefront of the global scale-up of CCUS technologies.
“It has a substantial resources industry, some of the world’s best deep sedimentary basins for carbon storage, immediate access to trial and deploy the latest CCUS technologies, globally renowned researchers, and the Otway International Test Centre.”
Other notable speakers who appeared at the conference included Woodside VP Carbon Business Jayne Baird; Bridgeport Chief Executive Chris Way, Woodside GM, Carbon Capture & Storage Shannon O’Rourke; Global CCS Institute GM – Commercial Alex Zapantis; and Credit Suisse Head of Energy Research Australia Saul Kavonic.
For more information about the Australian Carbon Capture Utilisation and Storage Conference, click here.