Premier Malinauskas visits Santos' Moomba project, touting its role in decarbonization. CEO Gallagher announces plans to increase storage capacity. But critics argue the project's impact on climate change is negligible.
Santos , an Australian gas giant, claims to have stored the equivalent of 340,000 tonnes of carbon dioxide at its Moomba Carbon Capture and Storage project. The project, located in South Australia's far north-east, aims to capture and store CO2 from natural gas production. Premier Peter Malinauskas visited the facility and praised the project, stating that it represents a significant step towards decarbonizing the Australian economy.
He emphasized the role of natural gas in the transition to a low-carbon future and expressed confidence in the project's potential to pave the way for similar initiatives in South Australia. Santos CEO Kevin Gallagher outlined the project's expansion plans, aiming to reach a milestone of storing half a million tonnes of CO2 within the next month. Gallagher highlighted the significant storage capacity available in Australia's Cooper/Eromanga Basins, which he believes could be a global leader in carbon capture. He mentioned interest from countries like Korea, Japan, and Singapore seeking offshore CO2 storage solutions.However, Kevin Morrison, an energy analyst at the Institute of Energy Economics and Financial Analysis, criticized the project as largely symbolic and insufficient to address climate change. He pointed out that the amount of CO2 stored pales in comparison to Australia's annual emissions, estimated at around 500 million tonnes. Morrison argued that while carbon capture technology might have some merit, Santos's claims about its impact on climate change are exaggerated and primarily serve as a public relations exercise
CARBON CAPTURE CLIMATE CHANGE SANTOS MOOMBA SOUTH AUSTRALIA PREMIER MALINAUSKAS KEVIN GALLAGHER KEVIN MORRISON
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