Australian player looking to launch fully operational CCS project by early 2030s

Perth-headquartered InCapture has secured a permit for a carbon capture and storage (CCS) assessment project on the North West Shelf in Australia, aiming to launch a fully operational CCS project by the early 2030s.

The greenhouse gas assessment (GHG) permit G-15-AP spans an area of over 6,500 km2 at a location said to offer potential for long-term and secure greenhouse gas storage. The southern part of the permit area lies 120 kilometers from the major industrial ports of Dampier and Port Hedland.

The project is a collaborative venture, with InCapture holding 75% equity alongside partners SK earthon Australia – a wholly-owned subsidiary of South Korea’s SK Innovation that is part of an alliance developing the Shepherd CCS project between Korea and Malaysia, with a 20% equity interest and Perth-based Carbon CQ with a 5% interest.

InCapture identified the G-15-AP area as having significant potential for carbon sequestration and successively formed a strategic joint venture partnership to appraise and develop the area. The company is already appraising several storage options within the permit area, with the goal of launching a fully operational CCS project by the early 2030s.

“CCS is essential for Australia and its neighbouring countries to meet their net-zero commitments. The recent award of greenhouse gas assessment permits by the Australian Commonwealth Government is a testament to our collective commitment to secure safe and effective storage sites for domestic emitters. The G-15-AP project is poised to play a pivotal role in decarbonizing Australia’s industrial sectors, with a special focus on hard-to-abate industries,” said Julia Davies, General Manager of InCapture.

“Our world-class storage sites at G-15-AP will not only support local efforts but will also enhance the carbon management capabilities of our valued trading partners in South-East Asia, Korea, and Japan. Secure storage solutions are vital in maintaining the Pilbara region’s status as an industrial powerhouse.”

Australian specialist CCS developers deepC Store and Azuli (Australia), a wholly-owned subsidiary of UK’s Azuli International, also secured two GHG acreages off Australia and entered into a joint study agreement for a strategic partnership with J-POWER by which the Japanese government-owned company intends to become a joint venture participant in the acreages in the Bonaparte and Browse Basins which have the potential to permanently store up to 1 giga (billion) tonne of CO2.