Transborders Energy (TBE) has transfered 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.
Transborders Energy executes MoUs with research and oil and gas industry leaders to develop an Australian Offshore CO2 Capture and Storage Hub Project
Leaders in the oil and gas sector have partnered together with researchers to consider co-developing an Australian offshore CO2 Capture and Storage Hub Project – the deepC Store Project.
This 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 CO2 Floating 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 (LETS), 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.
Transborders Energy is pleased to announce that it has signed Memorandums of Understanding for Collaboration (MoUs) with the following oil and gas industry and research leaders (in alphabetical order):
· Add Energy Group;
· Commonwealth Scientific and Industrial Research Organisation (CSIRO);
· Mitsui O.S.K. Lines, Ltd.;
· Kyushu Electric Power Co., Inc.;
· Osaka Gas Co., Ltd. and Osaka Gas Australia Pty Ltd;
· TechnipFMC plc; and
· Tokyo Gas Australia Pty Ltd.
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. All of the parties bring significant experience and expertise to develop the Project, whether that is as technical experts, LNG project investors who can be potential CO2 suppliers, or as prospective investors in the Project.
Transborders Energy Chairman Jack Sato said, “the execution of the MoUs, is a significant milestone towards developing an offshore multiuser CCS infrastructure for safely capturing, transporting and storing CO2 from LNG plants and other industrial plants in Northern Australia and Asia Pacific regions. This milestone also demonstrates industry’s willingness to collaborate and accelerate the decarbonization of the Australian oil and gas industry, and to contribute to Australia’s climate goals.”
CSIRO Researcher Dr. Linda Stalker said, “This project is strongly aligned to CSIRO’s role as Australia’s energy transition catalyst. Collaboratively accelerating geological storage of industrial emissions from both the oil & gas sector and hard-to-abate industries in Australia and the region will support our nation’s transition to net zero emissions. Our new Energy strategy and expertise is strongly aligned to help break down barriers to implementation and aid in achieving the LETS stretch goal targets to reduce cost of abatement.”
For further details please contact Matt Holding at +61 (0)8 6145 1100 or inquiry@transbordersenergy.com.