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Australian-listed engineering firm Worley (ASX:WOR) will present front-end engineering and design (FEED) companies for the Santos-led proposed big carbon seize and storage (CCS) mission offshore East Timor.
Beneath the contract, Worley will present FEED companies for the Bayu Undan offshore amenities and pipeline, the corporate mentioned in a press release. This contains the re-purposing of the Bayu-Undan facility and the offshore part of the fuel export pipeline from hydrocarbons to carbon dioxide (CO2) service.
Worley mentioned it’s going to additionally present FEED companies for the life extension of the Bayu-Undan facility and pipeline to allow continued protected and dependable operation.
The Bayu-Undan CCS mission is anticipated to retailer as much as 10 million tonnes of CO2 per yr,
equal to about 1.5% of Australia’s yearly carbon emissions, famous Worley. The mission has the potential to be one of many largest CCS initiatives on this planet.
The skilled companies shall be executed by Worley’s workplace in Perth, Australia, with help from the corporate’s international groups.
“We’re excited to strengthen our relationship with Santos and help this necessary carbon seize and storage mission. This mission is among the methods we’re serving to our clients to decarbonise and repurpose current property as we ship a extra sustainable world,” mentioned Chris Ashton, Chief Government Officer of Worley.
Bayu-Undan is positioned 500km offshore Darwin, Australia, within the Timor Sea, and is 250km south of East Timor in waters 80 metres deep.
Santos has proposed to make use of the Bayu Undan reservoir for capturing and storing carbon dioxide (CO2) from a brand new subject it’s creating off north-western Australia, the $3.6 billion Barossa mission, the place the fuel has a really excessive CO2 content material in comparison with different initiatives within the area. Fuel from Barossa shall be processed on the Darwin liquefied pure fuel (LNG) terminal in northern Australia for export to nations, resembling Japan and South Korea, that are demanding cleaner fuel to satisfy their net-zero aspirations.
Santos eyes cheaper carbon storage offshore East Timor at new $1.7bn APAC hub
Barossa is because of begin pumping fuel in 2025, and Santos has mentioned it expects Bayu Undan CCS to be prepared when the sphere begins up.
At present, round 40 million tonnes of carbon dioxide (CO2) is captured and saved yearly. It appears like loads. However in keeping with the Worldwide Power Company (IEA), annual CCS expenditure has tallied lower than 0.5% of world funding in clear vitality and effectivity applied sciences.
This wants to extend. Modelling by the IEA reveals that to realize net-zero emissions by 2050, CO2 elimination wants to extend round 100 instances.
Furthermore, the IEA estimates that CCS should cease round 29 billion tonnes of cumulative CO2 from being emitted within the cement, iron, metal and chemical sectors alone by 2060. This implies CCS applied sciences ought to contribute to not less than 14% of the world’s cumulative CO2 discount by 2060 to adjust to the United Nations Sustainable Improvement State of affairs.
These ambitions require funding of over US$9 trillion in carbon seize programs over the subsequent 4 many years, reckons the IEA.
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