Chevron has recently secured a permit for a carbon capture and storage assessment in offshore Western Australia, marking another step forward in the company’s approach to managing the environmental impact of its activities.
The permit is an essential component of Chevron’s long-term vision, enabling the company to explore innovative technologies for delivering lower-carbon energy to its clients.
The permit, known as G-18-A, allows the company to evaluate the carbon storage potential of the offshore region near the town of Onslow in Western Australia.
If the location is approved, it would be used as a hub for storing emissions generated not only from Chevron’s own liquefied natural gas (LNG) operations but also from third-party sources.
According to Mark Hatfield, managing director of Chevron Australia, these prospects could enable the company to decrease the carbon intensity of its operations while also offering customers ways to reduce or compensate for the emissions generated by their activities.
The permit entails a joint venture with Chevron as the managing partner, alongside Woodside Energy Ltd., where Chevron will possess a 70% stake in the permit, while Woodside will own a 30% stake.
Additionally, Chevron has consented to transfer five percent of its share in the permit to GS Caltex (GSC) from South Korea. GSC’s participation in the permit is dependent on regulatory approvals and other requirements.
Relevant: Chevron to Fund Two Carbon Capture Projects in Western Australia
This award expands on Chevron’s ambitions in the region, including its non-operated interests in G-9-AP, G-10-AP, and G-11-AP areas.
Since August 2019, the company has been operating the Gorgon CCS system, situated at the Gorgon liquefied natural gas (LNG) facility on Barrow Island, off the northern coast of Western Australia.
Chevron has reported that this decarbonization system has successfully captured and stored 10 million tonnes of CO2-equivalent to date.
Read more: Australia Approves New Offshore Acreage For Greenhouse Gas Storage
