PERTH (miningweekly.com) – The Victorian government this week inked a contribution agreement with Japan Oil, Gas and Metals National Corporation (Jogmec) which will see the resources company provide funding support to the government’s CarbonNet project.
The CarbonNet project will underpin commercial hydrogen production by storing carbon dioxide underground, reducing this greenhouse gas in our atmosphere. It is the most technically advanced carbon capture and storage (CCS) hub being developed in Australia and stands apart for its potential to capture emissions from multiple sites.
As part of the agreement Jogmec will contribute in an advisory role to CarbonNet’s front-end engineering design, which is a critical undertaking as the project progresses to regulatory and environmental assessments later in 2022.
The agreement will not only reduce the state’s expected total expenditure on CarbonNet, but also strengthen relationships between Victoria and Japan.
“Partnerships like this are important to advance technologies that can help us lower emissions and create jobs for the future,” said Resources Minister Jaala Pulford.
“The opportunities for the CarbonNet project are exciting and I’m pleased this contribution agreement with Jogmec will continue to support the ongoing development of CCS happening in Victoria.”
A 2021 report produced by EY Australia estimates that the new industries CarbonNet could deliver will create up to 3 000 construction jobs from 2026 and then up to 1 000 ongoing operational jobs from 2030.