The Oil and Gas Authority (OGA) has granted Harbour Energy (LON:HBR) a carbon capture and storage (CCS) licence for its V Net Zero project in the Humber.
Carbon Captrue and Storage (CCS)
Repsol (BME:REP) said it will start up a key carbon capture and storage (CCS) project in Indonesia in 2027. Significantly, the CCS scheme tied to the onshore Sakakemang Block will be among the largest of its kind in the world and will be the first for both Repsol and Indonesia, claimed the Spanish company.
China's top offshore oil and gas producer, CNOOC, has launched the country's first offshore carbon capture and storage (CCS) project in South China Sea, which is expected to store more than 1.46 million tonnes of carbon dioxide, reported Reuters.
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
Santos chief executive Kevin Gallagher warned oil and gas industry leaders that achieving net zero emissions will be crucial for the natural gas industry to avoid coal’s fate of being shunned by equity investors and lenders.
The Indonesian Ministry of Finance has announced plans to introduce carbon pricing in an effort to help finance clean energy projects and boost tax revenues, as well as cut emissions, in Southeast Asia’s largest economy.
Proposed new regulations signal that the Indonesian government appears to have recognised the importance of supporting carbon capture and storage (CCS) schemes. Such regulations will be crucial to encourage major companies, such as BP and Repsol, to invest in significant new upstream production in Indonesia.
Santos is exploring potential liquefied natural gas (LNG) expansion developments for its Darwin export plant in northern Australia after signing a memorandum of understanding with Italy’s Eni.
Australia’s Santos plans to take a final investment decision (FID) on its proposed Moomba carbon capture and storage (CCS) project that it said would be among the largest in the world.
The Oil and Gas Authority (OGA) has launched a new “game-changing” interactive mapping application that could be a valuable tool in the search for carbon storage locations.
An Aberdeenshire project has been awarded £2.7million to test and develop a cost-effective way or converting North Sea gas to a clean fuel.