SK Earthon wins Australian carbon storage exploration rights

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SK Earthon wins Australian carbon storage exploration rights - Korea Economic Daily

Quick Summary:

The G-15-AP block is the first block for capture and storage of carbon emissions from Australian industrial operations, SK Earthon said, adding that the project will meet the local demand in Australia as well as creative collaboration opportunities with Korean CCS companies and sustainable growth solutions for the two countries.

The company aims to obtain development and injection rights from the Australian government and start carbon dioxide injection by 2030 if the project proves viability.“With this CO2 storage exploration right, we aim to create synergy between our resource development and CCS efforts for sustainable growth.

SK Earthon Co., the energy resources exploration and production (E&P) unit of South Korea’s top energy company SK Innovation Co., will speed up its carbon capture and storage (CCS) business on an offshore basin on the northwest shelf of Australia.