Mr Buckley said most of the carbon sequestration that took place across the globe was aimed at extracting more oil and gas from reservoirs. "All these factors make it really complicated and costly to do it on a large scale." Climate critics unconvincedĬlimate Energy Finance director Tim Buckley said Chevron's admissions were an indictment on the technology. "If you're trying to bring, for example, a single-point source CO2 capture, which is a pretty small volume to the storage site … you basically double the cost," Ms Gao said. On top of this, Ms Gao suggested the viability or attractiveness of the technology also depended on carbon pricing to send a strong enough signal to producers.īut she said the biggest problem confronting the industry was the challenge of transporting carbon, noting that pipelines and shipping could often more than double the cost of projects. He said the problems at Gorgon, in which Chevron is sequestering carbon under Barrow Island of Western Australia's Pilbara coast, were specific to the project rather than the broader process.Īccording to Mr Fallon, its issues related to a need to extract water from the reservoir in which the carbon was held.įor starters, Ms Gao said projects often faced long wait times before they could get approvals, while it was also difficult to capture carbon "at the point source" cost-effectively. Seven Indian companies have made it to a carbon-clean list of 200 largest companies worldwide ranked by their total clean-energy revenues. Speaking in Adelaide at the annual Australian Petroleum Production and Exploration Association get-together, Mr Fallon maintained that carbon capture was a proven and viable technology. Four Indian companies-Godrej Industries, NHPC Ltd, Sutluj Jal Vidyut Nigam and Bharat Electron have moved out of ranking for being laggard. "It's had it challenges, and it's not performing where Chevron and our JV (joint venture partners) partners would like." The revelations come amid growing calls from the oil and gas industry for carbon capture to be used to offset emissions as part of the broader shift towards renewable energy and decarbonisation.īut David Fallon from Chevron Australia insisted the technology for carbon capture and storage (CCS) was working and the reinjection plant at the massive Gorgon gas field could be a model for others to follow.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |