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Santos joins climate initiatives

renewable energy Qld

Santos has joined two climate change initiatives, affirming the company’s commitment to a net-zero future.

The company is now a signatory of the Aiming for Zero Methane Emissions initiative, becoming the second Australian company to join the scheme. The scheme aims to eliminate the oil and gas industry’s methane footprint by 2030.

Santos has also endorsed the World Bank’s Zero Routine Flaring by 2030 initiative. Under this initiative, the company will develop and implement plans to achieve its commitment and will report its flaring.

Santos managing director Kevin Gallagher said the company is working towards net-zero scope one and two emissions by 2040.

“The aims of the initiatives closely align with our three-hub carbon capture and storage, and low-carbon fuels strategy, which is designed to enable Santos to abate the critical fuels we are producing today and supply lower-carbon alternatives as customer demand evolves,” he said.

“Our flagship Moomba Carbon Capture and Storage project in the Cooper Basin remains on track for first injection mid-2024.

“Moomba CCS will be one of the lowest-cost CCS projects in the world and will have capacity to store up to 1.7 million tonnes of carbon dioxide per year.”

The announcement follows Santos’ annual results which saw a record cash dividend for the company.

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