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05/03/2020

BP to invest in Australian carbon capture and storage project

Investment to form part of BP's agreed compensation package with the government following its exit from exploration in the Great Australian Bight

UK supermajor BP could be set to invest A$20 million (US$13.2 million) in a carbon capture and storage (CCS) project in South Australia.Australian independent Santos confirmed Wednesday it had entered a non-binding agreement with BP which could see the latter invest in the Moomba CCS project.The project will capture the roughly 1.7 million tonnes of carbon dioxide currently separated from gas at Santos’ Moomba plant and safely and permanently re-inject it into geological formations in the Cooper basin.


Published by Josh Lewis
5 March 2020

For molre in formation go to [https://www.rechargenews.com/transition/bp-to-invest-in-australian-carbon-capture-and-storage-project/2-1-768281]




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