C Barton CCS Policy in Australia

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C Barton CCS Policy in Australia

  1. 1. CCS POLICY IN AUSTRALIA Carolyn Barton - Counsellor (Resources and Energy) Australian Embassy, Tokyo 19 June 2014
  2. 2. Introduction  Budget 2014 outcomes  Emissions Reduction Fund  Energy White Paper  Policy settings in Australia  Key projects  International Collaboration
  3. 3. Australian Government Funding:  CCS Flagships Program - $130.2 million to 2016-17  National Low Emissions Coal Initiative - $96.6 million to 2016-17 2014 Budget Outcomes
  4. 4. Emissions Reduction Fund  Two elements: crediting and the safeguards mechanism  Crediting: Australia’s emissions intensity Note: Emissions are presented using the Intergovernmental Panel on Climate Change’s Fourth Assessment Report global warming potentials.  Safeguard mechanism • $2.55 billion for buying low cost, verifiable, genuine emissions reductions • Begins 1 July 2014 • Will cover 130 businesses representing 52% of Australia’s emissions • Begins on 1 July 2015  No carbon tax or emissions trading scheme
  5. 5. The Energy White Paper is part of a broader package of Government reforms To present an integrated and coherent Australian Government position on energy policy  Mid 2014 - Green paper release  End 2014 - White paper release  For further developments see the website: www.ewp.industry.gov.au
  6. 6. Policy setting in Australia  Policy case for CCS remains  Changed budget settings  Strategic focus on key priorities  Partnership with industry  International collaboration
  7. 7. Key projects moving ahead Gorgon LNG Project Callide Oxyfuel Project CO2CRC Otway Project South West Hub Project CarbonNet Project
  8. 8. Bonaparte Basin/Petrel sub-basin identified as a plausible CO2 storage site with 15.9 GT capacity  $10 million regional assessment of CO2 storage potential for targeted basins  Darwin region is a prospective future regional CCS hub storing CO2 emissions from LNG operations (potentially 14 MTPA emitted)  Geoscience Australia’s 30 year simulation (right) is well within basin capacity and pressure constraints Source: Regional assessment of the CO2 storage potential of the Mesozoic succession in the Petrel Sub-basin, Northern Territory, Australia; Geoscience Australia; 2014 www.ga.gov.au
  9. 9. International Collaboration on CCS  Global Carbon Capture Storage Institute  Carbon Sequestration Leadership Forum  International Energy Agency  Bilateral relations with Japan, China and the European Commission  Australian Department of Industry  Callide Oxyfuel project  Gorgon project  CarbonNet project ?  Future projects ? Australia – Japan Bilateral relations:
  10. 10. DEPARTMENT OF INDUSTRY Industry House 10 Binara Street Canberra City, ACT 2601, Australia Telephone +61 2 6213 6000 Thank you

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