https://www.miningweekly.com

Appea calls for CCUS incentives in Qld

17th February 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) - The Australian Petroleum Production and Exploration Association (Appea) has called on the Queensland government to use a new resources sector plan to boost investment in cleaner energy to reduce carbon emissions.

In its submission for the Queensland Resources Industry Development Plan, Appea has called for the expansion of carbon capture, utilisation and storage (CCUS) initiatives, with the industry body saying the proposal should be more proactive and should support, facilitate and incentivise CCUS.

The state government last year released its draft Queensland Resources Industry Development Plan (QRIDP) which identifies the biggest global trends affecting the industry now and over the next three decades, and presents actions that will enable industry and government to respond to these trends.

Trends identified in the QRIDP include decarbonisation, corporate social responsibility, the scarcity and complexity of access to quality resources, an increasing consumer base in the Indo-Pacific region, geopolitics and emerging innovations which are expected to make mining safe and more productive.

The draft plan outlined six key focus areas where government and industry needed to take action in the short- to medium-term: improving regulatory efficiencies, fostering strong and genuine First Nation partnerships, growing and diversifying the industry to take advantage of the growing demand for new economy minerals, strengthening environmental and social governance credentials, and building a resilient workforce.

“Queensland has been ahead of the game nationally on carbon capture and storage policy, but we need to do more,” Appea acting Queensland director Matthew Paull said.

“There is a huge economic and emissions reduction opportunity for Queensland in this plan to make reforms that will turbocharge jobs and economic output in coming decades, but it will only work if the policy settings are right.”

Appea is calling for consideration of CCUS initiatives including the expansion of collaborative exploration initiative grants to all exploration for CCUS, not just new economy minerals as is currently the case.

The industry body has also urged the enabling of over-the-counter applications for greenhouse gas (GHG) storage tenure rather than solely relying on managed tenure release, saying it would improve the efficiency and responsiveness of the tenure system.

Appea has also suggested taking action to improve understanding of CCUS amongst government regulators and ensure there is a viable approvals pathway for CCUS proposals, and developing an eligibility criteria and standard conditions (ERA) standard for CCUS and classing CCUS as a low-risk activity to expedite investment.

At present proponents are required to undergo a full environmental assessment and there is no ERA standard for CCUS activities.

Appea has also suggested directly incentivising CCUS development via rent deferrals during a development phase.

“Queensland needs to reduce GHG emissions and the industry is committed to being part of the solution in moving to net-zero emissions by 2050,” Paull said.

“If the state is going to get there, all emissions reduction opportunities need to be on the table and CCUS is proven technology that has to be in the mix. Natural gas as a cleaner energy source as well as CCUS initiatives will be key parts of the future energy mix.”

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION