Chevron Corporation, through its subsidiary Chevron Australia New Ventures, unveiled plans to expand its CCS portfolio with the aim of safeguarding Western Australia’s coastlines in the coming years. Future carbon capture and storage projects will be made possible through a special assessment permit.
Expanding Chevron’s CCS portfolio
This permit, called G-18-AP, covers an area of approximately 8,467 km² offshore Onslow and represents a key opportunity for Chevron to advance its strategy of delivering lower carbon energy.
[post_relacionado]The area covered by the G-18-AP permit will be evaluated as a potential storage facility for third-party emissions, including those from Chevron-operated liquefied natural gas(LNG) assets in the region. This project is part of a joint venture in which Chevron is the lead operator with a 70% interest, while Woodside Energy owns the remaining 30%. In addition, Chevron has agreed to divest 5% of its interest to Korean company GS Caltex (GSC), whose entry into the project is subject to regulatory approvals.
Moreover, the company has a vital focus with this new award because it has the potential to expand Chevron’s portfolio of CCS assets in the country, complementing existing projects such as CCS Gorgon, one of the largest carbon capture facilities in the world.
Chevron Australia managing director Mark Hatfield emphasized the project’s potential impact on reducing the carbon intensity of Chevron’s operations and helping customers reduce or offset emissions from their activities. This award adds to other non-operated permits in Western Australia and reinforces Chevron’s commitment to climate change mitigation through advanced technological solutions.
“Chevron, along with our joint venture participants, has a unique set of assets, capabilities and customer relationships to support the assessment, development and implementation of carbon capture and storage in Australia.”
Chris Powers, vice president of CCUS and emerging technologies for Chevron New Energies.
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Source and photo: Chevron