APPEA welcomes federal government CCS move By Martin Kovacs, 31 May 2017

The Australian Petroleum Production & Exploration Association (APPEA) has welcomed the federal government's move to allow carbon capture and storage (CCS) projects Clean Energy Finance Corporation (CEFC) financing access.

The federal government has advised that it will remove a legislative prohibition on the CEFC to allow it to support investment in CCS technologies.

“CCS is seen as one of the pathways to the continued use of fossil fuels in a low-carbon economy,” APPEA Chief Executive Dr Malcolm Roberts commented. “Accelerating the rollout of CCS projects could assist in reducing emissions from the generation sector. Allowing these projects to access CEFC financing, subject to appropriate investment tests, would offer tangible support for this potentially important technology.

“The International Energy Agency (IEA), in its recent World Energy Outlook, highlights the important role CCS can play in meeting global greenhouse gas emissions reduction targets.

“The global oil and gas industry is leading the world in the practical deployment of this technology. In Australia, the oil and gas industry has been at the leading edge of researching and deploying CCS and greenhouse gas storage technologies.”