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Queensland plans third party, other than surface land owner, to own volumetric lot and lease in CO2 waste dumps

Posted by gmarkets on 3 September, 2007

According to a Queensland Department of Mines and Energy draft report, a CO2 underground management statement could easily be adapted from current legislation dealing with petroleum exploration. Binding rights arrangement: Linked to volumetric subdivision under the LTA and the LA was a registered and therefore binding rights arrangement called a building management statement (BMS). The BMS (section 54C LTA) provided guaranteed rights of access without the need for registered easements, management of support for the lots subject to the BMS, insurance arrangements and the like.

Modify statements to apply to CO2 dumps: A modified CCS centric statement (e.g. CO2 Underground Management Statement) could easily be applied if volumetric subdivision was used for CCS to cater for:

• access rights for injection and monitoring;

• registered right (held in land registry);

• monitoring arrangements;

• liability issues;

• ability to identify a volumetric lot;

• insurance arrangements;

• benefits and burdens attached to each title of the sub-division;

• ability for title holder to deal with the land through e.g. mortgage, lease or selling.

Third-party ownership possible: The last point could also allow a third party, other than the surface land owner, to own the volumetric lot and lease (under the LTA or LA) or on-sell to a future CO2 injector. [The following website address provides a detailed explanation and diagrammatic examples of volumetric subdivision currently in use in a building context: http://www.nrw.qld.gov.au/property/titles/rdpp/pdf/section_10.pdf]

Reference: This publication may be printed from or downloaded form the DME website at ww.dme.qld.gov.au For copyright enquries telephone (07) 3237 1644 or send facsimile to (07) 3238 3188. The closing date for submission sis two months from the date of announcement by the Minister. Submissions can be sent by post, facsimile or email. Postal address: Mining Legislation Review, Mining and Petroleum, Department of Mines and Energy, PO Box 15216, CITY EAST Qld 4002 Facsimile: (07) 3238 3188. Email: ccsleg@dme.qld.gov.au Please note: This discussion paper is for public discussion and comment and does not commit the government or a Minister either to the views expressed in it or to a particular direction for future action. All submissions will be treated as public documents subject to the Freedom of Information Act 1992. Submissions may take the form of letters or emails addressing the questions asked in the paper, issues of concern, or a list of matters identified by page or section numbers, stating the issues arising and suggested solutions.

Erisk Net, 1/8/2007

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