What's on the way
Carbon capture, use and storage (CCUS) can permanently cut emissions from a range of sectors such as energy generation, natural gas, hydrogen production and heavy industries. We’re investing in a range of initiatives to develop the industry over the coming decade.
Supported by the $50 million Carbon Capture, Use and Storage Development Fund.
We’re investing $250 million over 10 years to develop the CCUS industry in Australia.
We will reduce the cost of CO2 compression, transport and storage to less than $20/tonne.
Crucial for producing clean hydrogen.
- CCUS allows Australian coal and gas to be transformed into clean hydrogen.
- This will create new economic opportunities for Australian regional communities.
- By co-locating CCUS facilities with hydrogen production facilities we can reduce transport and storage costs and create the foundation for future low emission industrial hubs.
Carbon capture, use and storage (CCUS) involves capturing emissions through various technological options and then injecting the captured emissions deep underground.
The world is already capturing and storing about 40 Mtpa of CO2 annually. Global investment in technologies is increasing rapidly and it is estimated that we will need to store around 5,635 Mtpa by 2050 to meet climate change goals in the lowest cost manner.
CCUS is a proven and versatile technology that can cut emissions from energy-intensive industries and help create a hydrogen export industry for Australia. It can accelerate achieving our goal of delivering cost competitive clean hydrogen to the world, a view supported by both the International Energy Agency and Intergovernmental Panel on Climate Change
What does it mean for you?
- there will be fewer emissions from heavy industry in our atmosphere
- we are working towards a future that generates fewer emissions and greater environmental sustainability.
Under $20 per tonne
Achieving CO₂ compression, hub transport and storage for under $20 per tonne through innovation and co-location is our priority. At this price it becomes cheaper and more accessible for more sectors to use this technology in minimising their carbon emissions.
These innovative carbon capture, use and storage projects are breaking new ground.
Hydrogen energy supply chain project (Vic)
A world-first collaboration between Australia and Japan. Liquefied hydrogen will be produced and transported from the Latrobe Valley to Kobe in Japan.
Mineral Carbonation International (ACT, NSW)
MCi is an internationally award-winning Australian company transforming CO2 emissions into valuable products for use in industry and building products.