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Management and The Board
08 Dec 2020
The deepC Store Project will consist of capturing CO2 from industrial sources in Australia and the Asia-Pacific region, shipping of liquid CO2 from capture sites to a CO2Floating Storage and Injection (FSI) hub facility in offshore Australia, and a CO2 injection well for storage in a subsurface storage complex in close proximity to the FSI hub facility, as shown below:
The goals of the deepC Store Project align with the Australian government’s Low Emissions Technology Statement, with carbon capture and storage being identified as one of the five priority technologies and economic stretch goals to reduce emissions from energy, transport, agriculture and heavy industry.
To deliver this, Transborders Energy has partnered with Add Energy and six other oil and gas industry and research leaders. Under these MoUs, the parties will share information and knowledge in relation to the scoping and seeking funding for a concept study for evaluating the technical, commercial, and economics for developing the Project.
Comment from Add Energy’s EVP, Eduardo Robaina:
“Add Energy’s engineering experts will be providing services related to the CO2 injection well(s) as part of this agreement. We are excited to be working together again with Transborders Energy and industry leaders to progress the deepC Store Project to help further CCS in Australia and globally. CCS is a important technology that can assist in the transition to net zero emissions.”
Comment from Transborders Energy Chairman, Jack Sato:
“This MOU is an important milestone for the development of a multi-user offshore CCS infrastructure that safely recovers, transports and stores CO2 from LNG plants and other industrial facilities located in northern Australia and the Asia-Pacific region, and will help related industries work with each other to accelerate decarbonization of the Australian oil and gas industry and reduce Australia's emissions targets.”
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