The Minister for Mines and Petroleum today approved the drafting of a Bill to provide the resources industry with opportunities to decarbonise, such as mineral carbonation and carbon capture, utilisation and storage (CCUS). At present there is no fit for purpose CCUS or carbon capture and storage (CCS) regime, with existing CCS activities requiring bespoke State Agreements to facilitate.
This development follows the announcement earlier in March of a CCUS study into Western Australian opportunities commissioned by the Western Australian LNG Jobs Taskforce. The study is being conducted by the CSIRO and the Global Carbon Capture & Storage Institute and intended to analyse how these technologies can be best deployed in Western Australia to decarbonise emissions intensive sectors.
CCUS and CCS technologies are recognised as a critical part of the mix to meet net zero and decarbonisation goals. The structural change to be delivered through this legislation will establish a pathway to better support further the development of CCUS and CCS. There will be consultation on the proposed legislative amendments before the Bill is finalised.
The media statement is available here.
By Melanie Debenham, Partner, and Naomi Hutchings, Special Counsel.
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