World first greenhouse gas offshore acreage release

27 March 2009

Minster Ferguson announces world first greenhouse gas acreage. © Geoscience Australia.

Minster Ferguson announces
world first greenhouse gas acreage
© Geoscience Australia

Australia is leading the world in carbon capture and storage, the Minister for Resources and Energy, Martin Ferguson AM MP, said at Geoscience Australia's Canberra headquarters today while announcing the world's first commercial release of greenhouse-gas acreage for industry.

Ten offshore areas have been released to allow industry to undertake further assessment of potentially viable greenhouse gas storage formations. The release areas are located across five offshore basins off Victoria, South Australia, Western Australia and the Northern Territory, and are based on proposals received from industry and government stakeholders.

"The release of the greenhouse gas acreage sites forms an important part of the Government's commitment to reducing Australia's carbon footprint while maintaining economic growth," Minster Ferguson said when releasing the acreage today.

"It is also important for the oil and gas industry and our energy intensive industries. Projects such as Gorgon LNG in Western Australia have enormous potential to create jobs, exports and long-term economic growth at a time when we need it most, but CCS technology is crucial to its success", said Minister Ferguson.

This release follows the introduction of new carbon capture and storage legislation, the Offshore Petroleum and Greenhouse Gas Storage Act 2006 in November last year.

Technical preparation of the data underpinning the release was undertaken by Geoscience Australia in conjunction with their state-based geological organisations, in particular GeoScience Victoria.

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