Carbon Capture and Storage Flagships
The Government will provide $2.0 billion over nine years for the Carbon Capture and Storage (CCS) Flagships program. This program will support the development of industrial‑scale demonstration projects for CCS technology in Australia.
The portfolio of projects is expected to include a carbon dioxide storage hub with pipeline infrastructure, as well as integrated CCS projects to demonstrate a range of technologies to capture carbon dioxide from coal‑fired power stations.
Projects will be subject to a competitive process with the Government contributing up to one‑third of the cost.
The Flagships program represents a significant contribution to the G8's target for the development of CCS. The G8's target is for 20 industrial‑scale projects to be committed worldwide by 2010, to support the wide‑ranging deployment of CCS by 2020.
Together with the existing $400 million National Low Emissions Coal Initiative and the Cooperative Research Centre for Greenhouse Gas Technologies, the new CCS Flagships program will complement the recently launched Global CCS Institute.
These programs will accelerate the development and deployment of CCS in Australia, and ensure that Australia continues to be a world leader in the development of CCS technology.
The successful deployment of CCS will facilitate Australia's transition to a low‑pollution economy, generate jobs of the future, and help preserve the value of Australia's coal exports.
