Australia carbon capture and storage (CCS) specialists, deepC Store and Azuli, joined by J-POWER, have secured exclusive rights to explore two large offshore areas for potential carbon dioxide (CO2) storage.
These sites, located in the Bonaparte and Browse Basins off the northwestern coast of Australia, have the capacity to permanently store up to one billion metric tons of CO2.
To advance this ambitious project, the Australian companies have formed a strategic partnership with J-POWER, a Japanese government-owned energy company. J-POWER aims to become a significant investor in the project.
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The duo of deepC Store and Azuli initially secured the rights to these offshore territories late last year through a competitive bidding process conducted by the Australian government.
The Bonaparte Basin site spans approximately 1,500 square kilometers (~579 square miles) at depths ranging from 70 to 120 meters (~230 to 394 ft), while the larger Browse Basin site covers 9,500 square kilometers (~3,668 square miles) with depths between 40 and 270 meters (~131 to 886 ft).
“We are very pleased to be awarded the 2 GHG Acreages that both show a good fit for “CStore1,” our LCO2 shipping and FSI based CCS development concept. Also following on from our partnership established with J-POWER, a significant global player and pioneer in the electric power industry, we are committed to accelerating the development of CStore1 and advancing Australia and Japan’s strategic alliance in the CCS business,” said deepC Store Managing Director Daein Cha.
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The trio of companies envisions a comprehensive CO2 management system that includes capturing CO2 in both Japan and Australia, transporting it by ship, and permanently storing it beneath the seabed at the Australian sites.This approach aligns with the decarbonization goals of both Australia and Japan.
By joining forces, the partners intend to expedite the development of these CO2 storage projects, ensuring they meet all Australian regulatory requirements and contribute significantly to reducing greenhouse gas emissions.
“We expect that this development will contribute to providing a valuable option to Japan and Australia as well as the surrounding region to reduce CO2,” J-POWER Executive Officer Akira Yabumoto stated.
“CCS will play a critical role in J-POWER’s BLUE MISSION 2050, as well as global energy transitions. We will continue pursuing opportunities for CCS development and carbon reduction with CCS.”
