The Federal Government has released new areas for offshore greenhouse gas storage, which will help Australia lower emissions and meet net-zero targets.
The 2023 Offshore Greenhouse Gas Storage Acreage Release includes 10 areas across seven basins to explore carbon capture and storage (CCS) sites.
These sites are in waters off Western Australia, Victoria and Tasmania, which already host offshore exploration activities.
Minister for Resources and Northern Australia Madeleine King said the areas will help to reduce emissions and reach net-zero targets.
“The Australian Government is committed to lowering emissions and helping the world to achieve net zero emissions by 2050,” King said.
“Both the Climate Change Authority and the International Energy Agency have said CCS will be an important technology to help the world achieve its climate goals.”
In recent reports, greenhouse gas emissions have overall declined, with the year of December 2022, emissions totalled 463.9 million tonnes of carbon dioxide equivalent, 0.4 per cent lower than the same period in 2021.
The latest quarterly update revealed the role of renewables in Australia’s energy mix, with renewables accounting for 39 per cent of generation across the National Energy Market in the year to March 2023, an 18.6 per cent increase on the previous 12 months.
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