Transborders Energy (TBE) has transferred its Carbon Capture and Storage (CCS) project origination, development and operation business to a new entity called deepC Store Limited. Please visit the deepC Store Limited website for more information and update on its CCS business.
What We Do
Our deepC Store project is an Australian offshore CO2 Capture and Storage (CCS) Hub Project.
deepC Store will cover the entire CCS value chain, from capture, transport and storage. deepC Store consists of four components:
Capture of CO2 from industrial sources in Australia and potentially the Asia-Pacific regions
Shipping the liquid CO2 from the CO2 industrial capture sites to the deepC Store project’s CO2 Floating Storage and Injection (FSI) Hub Facility site located offshore northern Australia
Offloading and temporary storage of the liquid CO2 at the FSI Hub Facility prior to injection
Injection into a permanent subsurface storage complex in close proximity to the FSI Hub Facility.
The deepC Store project currently has a planned CO2 injection capacity of 1.5 million tonnes per annum (this annual injection capacity will be assessed and validated in the subsequent development phase).
Additionally, the deepC Store project design is modular and scalable, with additional CO2 carriers and FSI Hub Facilities that can be added into the network to rapidly increase injection capacity. This approach will also contribute to the reduction of the unit cost per tonne of CO2 to be injected through improvements in economies of scale.
The deepC Store project supports industry and community goals towards decarbonisation and transitioning to a future green economy. This is aligned with TBE’s goals of:
The study will provide a number of key outcomes:
assist Australia in meeting the global emissions reduction target of the Intergovernmental Panel on Climate Change (IPCC) 1.5% and the “well below 2°C” scenario ratified in United Nation’s Paris Agreement.
helping Australia attain the status of becoming a “CCUS hub” from the Oil and Gas Climate Initiative (OTCI)
helping the world achieve United Nation’s Sustainable Development Goal of "Affordable & Clean Energy".
Our Opportunity
CCS is a game-changer to address climate change. It is one of the few technologies able to adequately mitigate CO2 from fossil fuel industries, and the only technology capable of reducing large-scale emissions from myriad industrial sources.
According to United Nation’s IPCC and International Energy Agency (IEA), between 12% and 20% of global CO2 emissions need to be captured and stored if we are to meet “net-zero” emissions as per the United Nation’s Paris Agreement.
This means that approximately 0.61 billion tonnes (Gt) per annum of CO2 will need to injected by 2030 and by 2050 that increases to 4 Gt of CO2 injected per annum. The deepC Store project is planned to inject 1.5 million tonnes of CO2 per annum (this annual injection capacity will be assessed and validated in the subsequent development phase). This equates to approximately 400 deepC Store projects, and 2,700 deepC Store projects, respectively.
CCS technologies also offer significant strategic value in the transition to “net-zero” emissions:
CCS can be retrofitted to existing power and industrial plants, which could otherwise still emit 8 billion tonnes (Gt) of CO2 in 2050.
CCS can tackle emissions in sectors where other technology options are limited, such as in the production of cement, iron and steel or chemicals, and to produce synthetic fuels for long-distance transport (notably aviation).
CCS is an enabler of clean least-cost low-carbon hydrogen production.
CCS can remove CO2 from the atmosphere by combining it with bioenergy or direct air capture to balance emissions that are unavoidable or technically difficult to abate.
What Makes Us Different
The deepC Store will establish the Southern Hemisphere’s first large scale offshore multi-user hub infrastructure for receiving and storing CO2 from multiple sources and industries. This openness and flexibility are a unique value of the project, as other CCS projects only can be accessed by one or very few CO2 sources. It makes it possible for any industrial emitter that is close to sea and within reasonable shipping distance from the deepC Store project’s CO2 Floating Storage and Injection (FSI) hub facility site location in offshore Australia to get started with carbon capture at industrial scale and to abate its CO2 emissions via the deepC Store project.
The multi-user nature also makes the deepC Store project an excellent platform for establishing CCS relationships with countries and companies that can result in 3rd party CO2 supply volumes for the deepC Store project as well as that for other future CCS projects.
Additionally, the deepC Store project design is modular and scalable, with additional CO2 carriers and FSI Hub Facilities that can be added into the network to rapidly increase injection capacity. This approach will also contribute to the reduction of the unit cost per tonne of CO2 to be injected through improvements in economies of scale.
Regarding the rationale for the deepC Store project’s FSI Hub facility to be located offshore, Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) has identified multiple depleted oil and gas reservoirs and suitable aquifers located in offshore WA, NT and Victoria region for potential commercial scale CCS projects. While this shows strong potential for Australia to serve the CO2 transport and storage business, many of the identified offshore CO2 injection sites are remotely located and will require long distance pipelines if the CO2 storage and injection hub facility were to be built onshore. Having the FSI Hub Facility located offshore in close proximity to the identified offshore CO2 injection sites will significantly reduce the pipeline and compression power requirement for the CO2 injection.
TBE brings the following value proposition and makes it well placed to develop the deepC Store and enable the future CO2 transport and storage business, including:
Extensive commercial, technical and regulatory approvals expertise to develop offshore oil and gas major capital projects in Australia
Strategic partnerships with global tier one oil and gas / LNG companies to develop and operate the deepC Store, and to establish CCS relationships with countries and companies that can result in third party volumes for the deepC Store as well as for future CCS projects.
Extensive and established networks with all the owners of the permit holders of suitable depleted oil and gas reservoirs and aquifers located in offshore WA, NT and Victoria region.