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Santos signs MoU with

Korean partners for

Australian CCS projects

AUSTRALIA AUSTRALIA’S Santos announced that it had in the Cooper Basin in South Australia. The stor-
signed a memorandum of understanding age resource is estimated to hold 100mn tonnes
(MoU) with South Korea’s SK E&S and several of CO2 and is meant to serve the AUD220mn
other Korean firms agreeing to jointly support ($162mn) carbon capture and storage project
and collaborate in the development of CO2 stor- at Moomba. In partnership with Beach on that
age facilities in Australia and the surrounding project, Moomba CCS is expected to capture and
region, including Timor Leste. store 1.7mn tonnes per year. The storage facility
Besides SK E&S, which is partnered with San- will become operational in 2024.
tos in the Barossa Gas Project and Darwin LNG, Santos said a CCS project at Bayu-Undan in
the MoU includes K-CCUS Association and the Timor Leste would have the potential capacity to
Korea Trade Insurance Corporation. Australia’s permanently store some 10mn tonnes per year
CO2CRC, the country’s leading carbon cap- (tpy) of CO2. Santos will use the depleted gas
ture, utilisation and storage (CCUS) research reservoirs at Bayu-Undan to capture the emis-
organisation is also in the group. CO2CRC also sions from the $3.6bn Barossa gas and conden-
conducts research in clean hydrogen, direct air sate development. A final investment decision
capture and carbon-negative bio-refineries. (FID) was made by operator Santos in March
Kevin Gallagher, managing director and 2021.
CEO of Santos, said in a statement that the MoU The project is located offshore Australia’s
highlights the growing momentum and action Northern Territory. The FID marked the start of
to reduce carbon emissions in the Asia-Pacific. a $600mn investment in Darwin LNG life exten-
“Increased deployment of carbon capture and sion and pipeline tie-in projects that will extend
storage is critical to achieve the world’s climate the life of Darwin LNG by some 20 years. The
goals,” he said, adding that the agreement would plant has a 3.7mn tpy capacity.
strengthen the partnership with SK E&S. Santos expects to capture and store some
In February, Santos announced that it had 2.7mn tpy of CO2 from Barossa and Darwin
booked carbon storage in depleted gas reservoirs LNG.it™

P8 www. NEWSBASE .com Week 10 09•March•2022