Supporting Net Zero by 2050 

Australian Energy Producers supports Net Zero cross the economy by 2050, consistent with the objectives of the Paris Agreement and the commitments of the Commonwealth Government.  

Australian natural gas is pivotal to reaching net zero in Australia and the region, supporting the transition away from coal, providing the firm dispatchable energy required to unlock our renewable energy potential, and powering Australian industries including those processing the critical minerals necessary for net zero.  

The Australian Energy Market Operator sees 10 GW of gas power capacity playing a “crucial role” in 2050, providing peak loads and firming to support renewable power generation. 

The Australian oil and gas industry is amongst the world leaders in the development of step-change net zero technologies including CO2 capture, utilisation, and storage (CCUS) and low-carbon hydrogen.  These technologies will be critical to meeting net zero, not only in the energy sector but across the economy. 

Chevron’s Gorgon CCUS Project and Santos and Beach Energy’s Moomba CCUS Project are amongst the largest CO2 storage projects globally. 

Policy priorities
Develop a national CCUS roadmap to: 

  • Provide clear CCUS policy direction and consistent regulatory frameworks. 
  • Support collaboration to ensure CCUS and carbon removal technologies are available across the economy. 
  • Identify and advance priority hubs for CCUS, low-carbon hydrogen and hard-to-abate industry. 
  • Demonstrate that Australia is ‘open for business’ as a regional COstorage focal point.  

Learn more about how the oil and gas industry is supporting a cleaner energy future.