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Carbon capture and storage

21 July 2021

The carbon capture and storage (CCS) method will cover activities that capture and store greenhouse gas emissions in secure geological formations. CCS was also identified as a priority technology in the Low Emissions Technology Statement as large-scale deployment of CCS will underpin new low emissions industries (including hydrogen) and provide a potential decarbonisation pathway for other industries.

Diagram of the carbon capture and storage method development process.

Method development plan

Development stageStatusMilestones for the 2021 calendar year
Planning and scopingComplete
  • Ministerial method priority announced quarter 4 2020.
  • Initial method scoping and planning completed in quarter 4 2020.
Develop draft methodComplete
  • First co-design workshop held 17 December 2020.
  • Second co-design workshop held 22 March 2020
  • Co-design process continues during quarters 1 and 2 2021.
Technical and expert consultationIn progress
  • Technical review commenced in quarter 1 and quarter 2 2021.
  • This includes a legal review of regulatory frameworks for permitting CO2 storage, and a scientific review of geological storage risk.
ERAC considerationComplete
  • ERAC consideration scheduled quarter 2 2021.
Public consultationIn progress
  • Public consultation undertaken in late June and July 2021.
Refinement and draft finalisationPending
  • Refinement and draft finalisation during quarter 3 2021.
ERAC approvalPending
  • ERAC review scheduled quarter 3 2021.
Minister approvalPending
  • Method finalised by quarter 3 2021.

Issues Register

IssueResponse
Whether existing regulatory and approval regimes are sufficient to underpin CO2 storage.
The Clean Energy Regulator (the agency) will undertake an assessment of Commonwealth, state and territory regulatory frameworks (including monitoring and reporting frameworks) to support carbon storage.
Determining the appropriate length of a crediting period for CCS projects.

The agency considered evidence of the scale of capital investment for CCS projects, other economic costs and benefits, and how CCS projects meet the ERF's requirements for additionality under the Offsets Integrity Standards.

The proposed method is currently out for public consultation.




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