Australia's oil and gas industry says proposed new Western Australia legislation that allows for carbon capture and storage (CCS) solutions will increase decarbonisation opportunities for both industry and the wider economy.
The Australian Petroleum Production & Exploration Association (APPEA) today said the WA Government's announcement that it will draft the Greenhouse Gas Storage and Transport Bill was a positive development to reduce emissions and contribute to a cleaner energy future.
APPEA WA Director Claire Wilkinson said: "The oil and gas industry is committed to net zero emissions by 2050, with some companies planning to reach that commitment earlier."
"Billions of dollars have already been invested by our sector in cleaner energy technologies such as CCS and hydrogen.
"CCS is a proven, viable method and the oil and gas industry is well-positioned to deliver the technology. With WA home to most of the oil and gas activities in Australia, CCS is a key tool in our decarbonisation toolkit to reduce emissions.
"Our technological expertise, deep knowledge of WA's subsurface environment and our commitment to reducing emissions provide us with an advantage to deliver more CCS as well as ultimately support a new hydrogen industry with this process."
Ms Wilkinson said the industry looked forward to participating in the Government's consultation process on the Bill.
"We support this move by the WA Government. By providing regulatory certainty in this area, it will not only reduce emissions but give business confidence to invest, create jobs and grow the economy," she said.
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