Santos assumes carbon credits and seeks $275 million freebie for CO2 dump, 60km north of Moomba
Posted by gmarkets on 27 September, 2007
According to Nigel Wilson, reporting in The Australian, (19/9/2007 p. 40), the Coal21 conference in the Hunter Valley was told last week the first phase of the plan to store carbon dioxide in a depleted gas reservoir would require a total investment of $700 million.
Santos CO2 dump at Moomba: Santos vice-president, strategic projects, John Anderson, said the first “demonstration” phase of the Moomba project would store about a million tonnes of CO2 a year from existing Moomba processes. One issue for the second and third phases of the project is the carbon price that would be applied under the Government’s proposed cap-and-trade emissions trading scheme.
Demo phase by 2010: Anderson said the demonstration phase could be operating as early as 2010 and would make a significant contribution to meeting Australia’s 2012 Kyoto emission target. In the demonstration phase CO2 will be captured from the Moomba plant in far northeast South Australia, compressed in a “super critical” liquid that will be piped to the Tirrawarra satellite station 60km north of Moomba for injection into depleted oil and gas fields.
The Australian, 19/9/2007, p. 40
