APPEA - Australian Petroleum Production & Exploration Association Ltd.

11/21/2024 | Press release | Distributed by Public on 11/20/2024 21:56

Media Release: CCUS Action Plan highlights WA’s net zero leadership

Western Australia has reaffirmed its commitment to net zero with a plan for carbon capture, utilisation and storage (CCUS) announced today.

"The WA Government's CCUS Action Plan and funding support is evidence of how states can seize the economic opportunities of net zero while reducing emissions," Australian Energy Producers WA Director Caroline Cherry said.

"The Action Plan is an important step to attracting investment in CCUS, creating new jobs, and building a major new industry for Australia to support emissions reductions across the economy and the region."

"CCUS enables WA to grow its economy, underpinning local manufacturing and critical minerals processing.

"Without CCUS, industries like fertiliser and chemical production, iron and steel, and cement, will find it harder and more expensive to reach net zero."

The WA Government's plan aims to enhance policy certainty, accelerate the deployment of proven CCUS technologies and provide $26 million in funding support for two key projects in the state.

"CCUS represents a comparative advantage for Western Australia, with world class geology, industry experience, and strong links with regional trading partners looking to collaborate on CCUS," Ms Cherry said.

Western Australia is already home to one of the largest CCUS projects operating anywhere in the world today - the Chevron Gorgon Project.

"The plan further aligns the state with global momentum recognising that CCUS is essential for achieving climate goals," Ms Cherry said.

"It is a first for an Australian state, and an example of the action needed at a national level to support this critical technology."

"The International Energy Agency, Intergovernmental Panel on Climate Change, and CSIRO have all found that there is no pathway to net zero without the key emissions reduction technology of CCUS."

The release of Western Australia's CCUS Plan follows the announcement last month that Australian Energy Producers will co-host the world's leading CCUS conference in Perth in 2026.

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