Pilot Energy Limited (‘Pilot’ or ‘the Company’) provides the following update on the MWCEP regulatory approval process following the Commonwealth Parliament recently passing amendments to the Environment Protection (Sea Dumping) Act 19811,2.
Australia became a party to the London Protocol3 in 2000 which aims to protect and preserve the marine environment and take practical steps to prevent pollution of the sea. The capture and permanent storage of CO2 in deep subsurface formations below the sea is permitted under the London Protocol following amendments to the protocol in 2009 and 2013.
The recent amendments to Australia’s Environment Protection (Sea Dumping) Act 1981 ensure Australia can comply with its London Protocol obligations and issue a Sea Dumping permit to enable the offshore capture, transportation, and storage of CO2 in Australian waters.
These latest amendments provide Pilot with a clear regulatory pathway to provide material carbon management services to industrial emitters, particularly those in hard to abate sectors, thereby reducing the amount of CO2 emissions being released into the atmosphere.
The Cliff Head CO2 Storage Project (CH CCS) is located in Australian Commonwealth waters and requires Sea Dumping permits to facilitate the transfer and permanent storage of CO2 within the proposed CH CCS project some ~1500m below the sea floor.
The capture and permanent storage of CO2 can play a critical role by providing a means to deliver direct, measurable emissions reduction as emission intensive industries transition to the use of carbon-free fuels and energy sources.
The MWCEP requires regulatory approval across environmental, development and operational aspects of the project. The project’s application to Declare a Greenhouse Gas Storage formation and subsequent Greenhouse Gas Injection Licence application are administered under the Offshore Petroleum and Greenhouse Gas storage act 2006.
Brad Lingo, Chairman of Pilot noted that “the passing of this legislation continues to de-risk the development and delivery of the MWCEP which, through its proposed CO2 Storage and clean ammonia production, can provide a meaningful reduction of global emissions. We congratulate the Parliament for passing this important legislation and look forward to continuing to play an active role in the development of Australia’s burgeoning CO2 storage industry.”