Santos takes FID on Moomba carbon capture storage project

Santos Ltd. and joint venture partner Beach Energy Ltd. have reached a final investment decision on the $165-million carbon capture storage (CCS) project at Moomba in South Australia. Start-up is expected in 2024.

Santos registered the project with Australia’s Clean Energy Regulator which provides a crediting period of 25 years. During this period the Moomba CCS project will qualify for Australian Carbon credit units for emissions reduction.

Moomba CCS is designed to capture and store 1.7 million tonnes/year (tpy) of CO₂ using depleted Cooper basin reservoirs. The project has the potential to store 20 million tpy in future development phases.

Santos is operator of Moomba CCS with 66.7% interest. Beach holds the remaining interest.