Transborders Energy to develop an Australian offshore CO2 capture and storage hub project
Australian and Japanese company Transborders Energy has signed a MOUS with research, oil and gas industry to develop Australian offshore CO2 capture and storage hub project.
It’s a joint partnership between the leaders in oil and gas sector and researchers to co-develop the project – the deepC Store project.
In one of five priority technologies, The Australian government recently named CO2 capture and storage hub one among them as the government is planning to fund A$18 billion to help cut carbon emissions.
Transborders Energy leading the deepC store project said it wants to capture CO2 emissions from liquefied natural gas (LNG) plants and other industrial plants in Asia pacific region and Australia.
The company’s primary objective is to ship liquid CO2 from captured site to a CO2 Floating Storage and Injection hub facility in offshore Australia, and a CO2 injection well for storage in a subsurface geological complex in close proximity to the FSI.
Jack Sato, Transborders Energy Chairman said
“The execution of the MoUs, is a significant milestone towards developing an offshore multiuser CCS infrastructure for safely capturing, transporting and storing CO2 from LNG plants and other industrial plants in Northern Australia and Asia Pacific regions,”
“This milestone also demonstrates industry’s willingness to collaborate and accelerate the decarbonization of the Australian oil and gas industry, and to contribute to Australia’s climate goals.”
Low Emission Technology Statement (LETS) of the Australian Government and the goals of the deepC Store Project align, with carbon capture and storage
Transborders Energy has signed Memorandums of Understanding for Collaboration (MoUs) with Mitsui O.S.K. Lines Ltd, Add Energy Group, Commonwealth Scientific and Industrial Research Organisation (CSIRO), Kyushu Electric Power Co, Tokyo Gas Australia Pty Ltd, Osaka Gas Co Ltd and Osaka Gas Australia Pty Ltd, TechnipFMC plc.
To develop the project all the companies under MoUs will share knowledge and information in relation to the scoping and seeking funding for a concept study for evaluating the commercial, technical and economics for the project.
