![]() The United States, Europe and the UK are among large economies investing heavily in CCS. ![]() Mr Gallagher says previous studies on CCS have been “post combustion” emissions, rather than direct capture from piped LNG. “Government has a role in supporting industry investment by reducing risk and creating certainty through clear legal and regulatory frameworks and robust policy guidance.”Įnvironmental groups, the Greens and several academics have speculated the effectiveness of CCS at scale. “CCS represents an opportunity for Australia if we get it right,“ Ms King said at the APPEA conference. Resources Minister Madeleine King has also backed in CCS, despite the Federal Government putting no money on the table for emerging industry. “Actions on furthering large-scale deployment of carbon capture technologies can lead to additional learning-by-doing cost reductions and improve economic growth,” an April G7 communique said. “Australia is well-suited to large-scale deployment of CCS to facilitate domestic CO2 abatement and support regional emissions reductions,” the IEA said in a recent energy review. ![]() Who supports it, and who’s against it?Īsides from industry and number companies placing huge swathe of investment behind it, a number of global and domestic groups are for the scale-up of CCS in Australia.Īt a global level, the International Energy Agency and the United Nations Intergovernmental Panel on Climate Change have both spelt out a role for CCS in Australia as a way to reach net zero by 2050. “The industry should have or could have been talking about this a lot more because the industry has been mostly fighting around not doing it wrong, rather than how they do it.”ĪPPEA and the gas industry are also making it a key issue for Government, arguing better regulation is needed to drive investment in CCS, which it claims will be a new money-making machine for the sector by taking emissions from other industries. “I think we’re learning that offsets are likely to be scarce and expensive. “If you don’t have CCS, well, then gas has no future,” Mr Wood said. ![]()
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