In Australia, a certain organization is pushing the government to create more security for the carbon capture industry. The Australian Petroleum Production and Exploration Association (APPEA) is submitting calls to the Federal Government for a national carbon capture utilization and storage (CCUS) roadmap to provide clear policy direction, identify and progress priority hubs for low emissions projects and promote Australia as a regional carbon storage leader.
The association also wants the Australian government to encourage investment in new gas supply and emissions reduction measures to put sustained downward pressure on gas prices. According to APPEA, the calls are to ensure energy security and fast-track the path to net zero. The focus is also on creating a dependable investment environment in the 2023-24 Budget.
The full suite of APPEA recommendations to be considered for the 2023-24 Federal Budget include:
- A clear CCUS policy direction and consistent regulatory frameworks.
- Identify and advance priority hubs for CCUS, low-carbon hydrogen and hard-to-abate industry.
- Demonstrate that Australia is “open for business” as a regional CO2 storage focal point.
- Enabling investment for a secure, affordable energy future.
- Assign major project status for new energy supply and low-emissions technology projects.
Among the other measures’ recommendations are unlocking new gas supply, driving down Australia’s energy prices, supporting new oil and gas development through acreage releases, and encouraging states to lift moratoriums on new exploration and development.
The last two measures are in conflict with the green energy transition. APPEA also appeals for limiting the scope of the independent Environmental Protection Agency which would threaten the country’s confidence in alternative energies’ development.