Today the Northern Territory Government in partnership with the CSIRO, industry and engineering companies have today signed an agreement to fast-track emissions reduction across Northern Australia's energy sector.
The agreement will see all parties, including INPEX, Santos, Eni, Woodside, Xodus Group and Origin Energy, develop a joint business case to assess the viability of a large-scale low emission carbon capture utilisation and storage hub at Middle Arm.
"Collaborative carbon offset and decarbonisation strategies are vital for the Territory to become a global low-carbon energy supplier, to create new local advanced gas-based manufacturing sectors and to deliver long-term economic growth and more jobs for Territorians," said Alister Trier, Gas Taskforce Chair.
The hub would be one of the largest multi-user, multi-access facilities in the world and will:
- support the transformation of Middle Arm into a globally competitive and sustainable energy and manufacturing precinct
- enable the Territory to meet the growing demand for low carbon energy, both domestically and internationally
- accelerate the creation of low emission advanced manufacturing
- enable carbon from other industrial sectors, such as an interconnected hydrogen industry, to be captured and stored.
The business case will be supported by detailed reports, and techno-economic models, to chart development and highlight investment opportunities.
"Now is our time to capitalise on our world-class energy resources, while embracing and safeguarding our unique environmental, cultural, social and community values," said Mr Trier.
The key to success will be in the close collaboration between the Territory and Commonwealth governments, the energy industry, research agencies, engineering and technology companies and foreign governments.
The Agreement was signed by the Chief Minister Michael Gunner at the South East Asia Australia Offshore and Onshore Conference (SEAAOC) in Darwin.