17 October 2024
Beach Energy Ltd (ASX: BPT, Beach) is pleased to announce successful commissioning and ramp-up of the Moomba Carbon Capture and Storage (CCS) project1, one of the world’s largest CCS projects.
All facilities, pipelines and injector wells have been commissioned and brought online. Following first CO2 injection on 30 September 2024, daily injection has reached capacity rates, exceeding expectations for the commissioning phase and indicating the project’s potential to capture and store approximately 1.7 million tonnes of CO2 per annum.
Moomba CCS is adjacent to the Moomba Gas Plant in the Cooper Basin, South Australia. The project comprises a four-stage compressor, five injection wells, CO2 dehydration and CO2 pipelines. Depleted underground reservoirs in the Strzelecki and Marabooka fields will safely store vented reservoir CO2 from the Moomba Gas Plant.
Managing Director and Chief Executive Officer Brett Woods said that commissioning of Moomba CCS is a pivotal moment in Australia’s emissions reduction journey.
“At full rates, Moomba CCS will safely store all vented reservoir CO2 from the Moomba Gas Plant and will abate approximately one third of Beach’s current equity emissions.
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“It is widely accepted that natural gas will play a critical role in the energy transition and that CCS is a necessary enabler for low emissions energy supply. The International Energy Agency has stated that it will be near impossible to reach net zero by 2050 without CCS.
“Thanks to Beach’s significant investment in Moomba CCS, we are now well on track to reach our targeted net Scope 1 and 2 emissions intensity reduction of 35% by 2030”, Mr Woods said.
Authorisation
This announcement has been authorised for release by the Beach Energy Board of Directors.
1Beach 33.4% non-operated interest; Santos 66.6% and operator
For further information contact the following on +61 8 8338 2833
Investor Relations
Derek Piper, General Manager Investor Relations & Treasury
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Ken McGregor, Manager Media and Government Relations...
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