Victorian CarbonNet makes shortlist for Australian first
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8 December 2009
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The State of Victoria has the potential to host Australia's first carbon capture, transport and storage network, with the Victorian CarbonNet proposal being shortlisted for pre-feasibility funding under the Commonwealth Government's $2.4 billion CCS Flagships Program.
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CarbonNet incorporates the staged development of a multi-user foundation CCS network over the next ten years and beyond, and includes the potential development of transportation infrastructure to link high carbon dioxide emission sources such as coal-fired power stations in the Latrobe Valley to proven and safe geological carbon storage sites.
CCS trials in Victoria, including at Nirranda in Victoria’s south-west which has already stored more than 60,000 tonnes of CO2 , and geographical research undertaken show Victoria has significant CCS potential and is well poised to exploit a low carbon economy.
“Provided this project meets expectations, ‘CarbonNet’ would be one of the first end-to-end networks of its kind globally, allowing multiple carbon producers to transport and store CO2 and potentially slashing Australia’s greenhouse gas emissions,” Victorian Energy and Resources Minister Peter Batchelor said.
“Proposals such as CarbonNet help accelerate the deployment of large-scale, integrated CCS projects globally.
“It would see Victoria become the location for one of the 20 large-scale carbon capture, transport and storage projects required worldwide, outlined by the G8 as being essential to reduce future global CO2 emissions.
“There is no single solution to greenhouse gas reduction which is why we are encouraging investment in carbon capture and storage, alongside renewable energy technologies, to make deep cuts to greenhouse gas emissions from coal-fired power generation.”
CCS is being explored across the world and is recognised by leading scientists and international authorities, such as the International Panel on Climate Change, as having the potential to safely and effectively reduce emissions from energy generation.
Estimates from the International Energy Agency suggest that CCS could contribute 19 per cent of the reduction of global CO2 emissions by 2050.
The development of the CarbonNet proposal builds on the $110 million Victorian Government Energy Technology Innovation Strategy (ETIS), which supports companies to carry out large-scale CCS demonstration projects in Victoria.
Future decisions to inject carbon in suitable geological formations are governed by strict environmental and community safeguards set out in the Greenhouse Gas Geological Sequestration Bill 2008 passed by the Victorian Parliament in December 2008.
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