The Northern Territory Government in partnership with the CSIRO, industry and engineering companies have today signed an Agreement to fast-track emissions reduction across Northern Australia’ energy sector.
The Agreement will see all parties, including INPEX, Santos, Eni, Woodside, Xodus Group and Origin Energy, develop a joint business case to assess the viability of a large-scale low emission Carbon Capture and Utilisation and Storage Hub at Middle Arm.
The Hub would be one of the largest multi-user, multi-access facilities in the world, and will create a long-term and more sustainable solution to storing carbon across Northern Australia.
The Hub would:
· Transform Middle Arm into a globally competitive and sustainable energy and manufacturing precinct;
· Enable the Territory to meet the growing demand for low carbon energy, both domestically and internationally;
· Accelerate the creation of low emission advanced manufacturing; and
· Enable carbon from other industrial sectors to be captured and stored.
The Hub would also drive job creation and sustainable economic growth in the Territory.
The business case will be supported by detailed reports, and techno-economic models, to chart development and highlight investment opportunities.
With increasing demand for low carbon products, the Hub also presents a significant investment opportunity, with confidence the Territory is committed to future-proofing development in a net zero emissions future.
The Agreement was signed at the South East Asia Australia Offshore and Onshore Conference (SEAAOC) in Darwin.
Quotes from Chief Minister Michael Gunner:
“We are working with CSIRO, Australia’s best scientists and industry to ensure the Territory is positioned to capture the opportunities as countries and industries advance towards Net Zero.
“The CCUS hub will be a game-changer in positioning Middle Arm as a magnet for investment, which will create more jobs and trigger new opportunities within the Territory.
“Our message is clear – we are Australia’s comeback capital and we are open for business.”
Quotes from Minister for Environment Eva Lawler:
“The signing of this agreement marks an important step forward with Government, scientists and industry coming together to develop a world-class facility to achieve our net zero emission by 2050.
“We are committed to doing business sustainably here in the Territory, and this means constantly hunting new opportunities and always looking ahead.
“There’s already plenty happening in this space – Sun Cable Australia-Asia PowerLink were on the ground in the Barkly last week as the Territory will host the world’s largest solar farm and renewable energy system in the world. We are also exploring new opportunities around renewable hydrogen, which will create new jobs for Territorians and help expand industry.”
Chief Minister of the Northern Territory
Minister for Environment
Source: NT Government