The Australian government has just announced it will invest $566 million in new offshore mapping programs that will include a plan to identify new carbon capture and storage (CCS) locations and possible sites for clean hydrogen projects.

On 8 May, Australia's Prime Minister Anthony Albanese unveiled the $566.1 million plan to deliver data, maps, and other tools to help the resources industry make new discoveries with the full mapping of Australia over the next generation.
The PM said that for the first time Resourcing Australia's Prosperity (RAP) will also map offshore areas of Australia.

Policy makers in most of the world's advanced economies have committed to decarbonise and Australia's leaders are no exception. Crucially, CCS could be the magic bullet needed – potentially a very effective solution to the decarbonisation and net zero challenges, as ENB's CCS Report 2024 found.

CME and MCA welcome CCS focus

The Chamber of Minerals and Energy of WA (CME) welcomed the inclusion of the mapping offshore areas to help identify potential carbon capture and storage (CCS) locations.

CME chief executive, Rebecca Tomkinson, said CCS technology was seen as an important part of Australia's decarbonisation pathway.

Tomkinson added that the investment in Geoscience Australia under the Future Made in Australia policy was an intelligent way to leverage geoscientific data and ensure projects had greater clarity for investment and initiation.

Minerals Council of Australia (MCA) chief executive officer Tania Constable also praised the decision to include offshore mapping in the government's pledge.

"Additionally, the announcement to map potential sites for clean hydrogen and carbon capture and storage underscores the pivotal role of advanced geoscience in these important decarbonisation technologies," she stated in a media release.

10-year investment

PM Albanese said next week's Federal Budget will include a $566.1 million investment over 10 years commencing in 2024-25 to deliver data, maps and other tools for use by the resources industry that will point the way to new discoveries and commit to the full mapping of Australia over the next generation.

"The landmark long-term investment, led by Geoscience Australia, underscores the government's plan to put the resources industry at the heart of its Future Made in Australia policy," he announced.

"There is no nation on earth better placed than Australia to achieve our goal of moving toward a clean energy future.

"By investing significantly in geoscience, we can boost our progress towards net zero."

CCS a magic bullet for Australia?

Policy makers in most of the world's advanced economies have committed to decarbonise and Australia's leaders are no exception. Crucially, carbon capture and storage (CCS) could be the magic bullet needed – potentially a very effective solution to the decarbonisation and net zero challenges.

However, unlike Northern America and Western Europe, the Australian government does not appear to see the same urgency in encouraging and implementing CCS at scale, as a key tool in helping to hit decarbonisation goals. Energy News Bulletin (ENB)'s latest special report explores the current status and potential of CCS in Australia, as well as its performance relative to other global jurisdictions.

Significantly, there is mounting evidence that CCS could be a magic bullet in the drive for decarbonisation, but it remains to be seen if Australia can capitalise on its potential.

Read the full report HERE