Carbon Capture buried ….not dead
GLENCORE funded for front end engineering study for 2019 project
Wednesday 17 August 2016
The federal government has given Glencore nearly $10 million to do the front-end engineering and design for a project to capture and store carbon dioxide underground near Wandoan in the Surat Basin.
The Carbon Transport and Storage Company (CTSCo) who received the funding, was acquired by Glencore in 2012 when it purchased Xstrata.
The project is located on a unique Glencore owned “greenhouse gas” tenement, and will be subject to local, state and federal government approvals processes before work could start on a demonstration facility in 2019.
According to Glencore’s global coal business group executive Mick Buffier, the project is an important one.
“This is an important development for the project and demonstrates the continuing contribution by Glencore and the coal industry to the research and development of low-emission technology solutions for fossil fuels that can be scaled up safely and commercially around the world,” he said.
“The project highlights the important role Australia is playing in developing solutions that could significantly reduce emissions from fossil fuels.”
The investment could signal a change in the federal coalition government's view of CCS technology, who back in 2014 cut almost half a billion dollars of funding from CCS technology.Coal accounts for 41% of the world’s electricity generation and 70% of Australia’s grid electricity and is essential in the manufacture of modern infrastructure.