Session 21. Oral Presentation for: Can Australia become APAC’s CCS hub of choice?

Presented on Wednesday 22 May: Session 21 Carbon capture and storage (CCS) is critical in Australia for future production of lower-carbon natural gas for domestic use and international export. There may also be targeted applications in other sectors, such as electricity, industrial heat generation and manufacturing, but only a small portion of the country’s carbon dioxide (CO2) emissions are likely to be addressed with carbon capture. That leaves significant CO2 storage potential untapped. Wood Mackenzie’s analysis suggests that Australia’s CCS opportunity lies less in the reduction of domestic emissions, and more in enabling other countries’ net zero ambitions. This involves building hubs to transport and store CO2 at scale, using Australia’s vast geological resources. Such hubs are major capital projects and typically require billions of dollars of investment. However, supporting CO2 storage hubs with public funding may feel like a bitter policy pill to swallow, if there is not a large Australian emissions reduction number on the other side of it. So, why should Australia put its money towards this, and fast? In this paper, we will size the economic opportunity, benchmark Australia’s competitiveness with other aspiring hubs in the region and assess the amount of investment and policies required to get there. To access the Oral Presentation click the link on the right. To read the full paper click here