Greater investment certainty for industries looking to technology to reduce emissions is now possible with the release today of the Australian Government’s Technology Investment Roadmap.
Low Emission Technology Australia (LETA) Chief Executive Officer Mark McCallum said the inclusion of carbon capture and storage (CCS) as a priority technology was particularly pleasing.
“The first Low Emissions Technology Statement of the Government’s roadmap outlines plans to reduce emissions from the energy sector by 250 million tonnes per year — which is the equivalent of
removing more than 62 million cars from our roads every year — and CCS will be critical in achieving that target,” Mr McCallum said.
“Internationally recognised evidence by specialist climate change bodies concur that international climate change targets cannot be achieved without CCS.
“It is proven, working around the world today, and becomes more affordable with every project and facility developed. We expect this trend to continue as it continues to progress in Australia.”
Mr McCallum said he sees early adoption opportunities in Queensland where LETA is progressing Glencore’s CTSCo Project and plans for a carbon hub.
“We know that Queensland has world-class carbon storage sites capable of permanently and safely storing potentially billions of tonnes of CO2 from many sources,” he said.
“The next phase of the CTSCo Project will see an integrated CCS project on a power station in Queensland — an Australian first and only the third in the world.
“Through this project we will identify large-scale safe and permanent storage and establish new markets for CO2. This knowledge will help us accelerate future carbon capture projects, including
from Australia’s newest large power stations and big industries in Queensland.”
CCS is not only applicable to the energy sector —the technology and carbon storage mean it is one of the few technologies able to decarbonise other hard-to-abate industries.
CCS can be used to remove emissions from steel, cement and fertiliser and other products we use and rely on every day, and it can also be used to produce clean hydrogen — a zero-emission transport fuel that can also help power industry.
“With access to large-scale onshore carbon storage and the infrastructure needed for world class export industries in Gladstone, Queensland would make an ideal site for the foundation of the regional hydrogen export hub,” said Mr McCallum.
“Our investments, while locally driven, involve technologies from around the world that can be further developed and deployed in multiple industries both here in Australia and internationally, thereby contributing to global efforts to reduce emissions.
“The Government’s support for CCS and other low emission technologies through the Technology Investment Roadmap process is important for our collective efforts to reduce carbon emissions and
should give industry confidence to accelerate their investment in and adoption of them.”