SUBSCRIBE
PROFILE

Chevron obtains a permit in Australia to explore CO₂ storage over 2,222 km²

Chevron and its partners, Shell and Mobil, are exploring the geological storage of CO₂ off the coast of Australia, a key project for emissions management in the Carnarvon Basin.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99€/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Chevron, in collaboration with Shell Australia and Mobil Australia Resources, has received the G-20-AP greenhouse gas assessment permit. This permit, located in the Northern Carnarvon Basin, covers an area of 2,222 km² with water depths ranging from 25 to 125 meters, near Barrow Island.

Feasibility study and strategic issues

The objective of this project is to assess the technical and commercial feasibility of geological carbon dioxide (CO₂) storage in the region. Carbon capture and storage (CCS) is identified as a crucial solution for reducing emissions linked to industrial activities and aligning with long-term climate goals.

The Northern Carnarvon Basin is considered a geologically favorable site for the storage of large volumes of CO₂. Australian authorities support these initiatives as part of an energy policy aimed at reducing carbon intensity while maintaining Australia’s global energy market role.

Progress and regional CCS challenges

Across the Asia-Pacific region, carbon capture and storage capacities under construction currently total 5 million tonnes per year. This figure could reach 23 million tonnes per year by 2035, according to data from S&P Global Commodity Insights.

However, the development of these capacities faces regulatory obstacles. A recent study by the Asia Natural Gas & Energy Association (ANGEA), conducted with the Boston Consulting Group, highlights the lack of a harmonized regulatory framework. This gap complicates the implementation of cross-border CCS projects and limits expansion opportunities for energy companies.

A project at the crossroads of climate and industrial policies

To address these challenges, ANGEA recommends increased cooperation between governments and companies. The main focus areas include the management of rights related to emissions reductions, data transparency on CO₂ storage, and the establishment of mechanisms to prevent leakages.

The G-20-AP project will serve as a test case to apply these recommendations and determine the economic and regulatory viability of large-scale CCS. Such initiatives could also accelerate the integration of decarbonization technologies in other strategic regions.

  • Popular on energynews.pro
South Korea extends operation of Kori 2 nuclear reactor until 2033
Solar and wind growth absorbs all global electricity demand increase
France: Sylvain Waserman defends Ademe against criticism of its effectiveness and legitimacy
Beev wins Carrefour Énergies contract for EV charging station installations
Caprock Midstream expands Texas gas network and appoints Steve Jones as CEO
PETRONAS becomes key carbon storage player and expands operations in Suriname
PETRONAS secures Malaysia’s first CCS permit and strengthens its upstream presence in Suriname, aligning an integrated strategy between CO₂ capture and low-cost offshore exploration.
Peru bets on carbon markets with its NDC 3.0 climate commitment
The Peruvian government announces a 179 million tonne emissions target by 2035, integrating carbon market tools and international transfers to reach its climate goal.
The UN validates an Article 6.4 methodology for landfill methane
The Paris Agreement Crediting Mechanism formalizes a landfill-methane methodology, imposes an investment-based additionality test, and governs issuance of traceable units via a central registry, with host-country authorizations and corresponding adjustments required.
Sinopec and BASF align their product carbon footprint accounting methods
Sinopec and BASF have reached a mutual recognition agreement on their carbon accounting methods, certified as compliant with both Chinese and international standards, amid growing industrial standardisation efforts.
NorthX injects $3.4mn into four Canadian carbon removal startups
NorthX Climate Tech strengthens its portfolio by investing in four carbon dioxide removal companies, reinforcing Canada’s position in a rapidly expanding global market.
Texas captures attention with over $10bn invested in carbon management
With dense industrial activity and unique geological potential, Texas is attracting massive investment in carbon capture and storage, reinforced by new federal tax incentives.
GE Vernova and YTL PowerSeraya launch a carbon capture study in Singapore
GE Vernova and YTL PowerSeraya will assess the feasibility of capturing 90% of CO₂ emissions at a planned 600-megawatt gas-fired power plant in Singapore.
Carbon removal investments hit $1 billion despite high operating costs
The carbon removal technology sector is expanding rapidly, backed by venture capital and industrial projects, yet high costs remain a significant barrier to scaling.
European Union faces 21.5 mtpa shortfall on carbon storage targets
A Wood Mackenzie study reveals that the EU’s carbon storage capacity will fall more than 40% short of the 2030 targets set under the Net Zero Industry Act.
Singapore targets 2.175 Mt NBS via REDD+ ITMOs with Peru
A bilateral framework governs authorization, transfer and accounting of carbon units from conservation projects, with stricter methodologies and enhanced traceability, likely to affect creditable volumes, prices and contracts. —
JPMorganChase and Carbon Direct publish framework to integrate biodiversity in voluntary carbon credits
Carbon Direct and JPMorganChase have released a guide to help voluntary carbon market stakeholders develop biodiversity-focused projects while meeting carbon reduction criteria.
Japan and Malaysia begin regulatory framework for CO2 transport
Japan and Malaysia have signed a preliminary cooperation protocol aiming to establish a regulatory foundation for cross-border carbon dioxide transport as part of future carbon capture and storage projects.
Green Plains deploys carbon capture system at its York facility
Green Plains has commissioned a carbon capture system in York, Nebraska, marking the first step in an industrial programme integrating CO₂ geological storage across multiple sites.
Oversupply pushes natural carbon credit price to 2025 low
The price of nature-based carbon credits dropped to $13.30/mtCO2e in October as a 94% surge in September issuances far outpaced corporate demand.
Carbon capture and storage market to reach $6.6bn by 2034
Driven by the energy, heavy industry and power generation sectors, the global carbon capture and storage market could reach $6.6bn by 2034, supported by an annual growth rate of 5.8%.
Paris Agreement: How Article 6 Shifts Carbon Credits to Regulated Demand by 2030?
Article 6 converts carbon credits into a compliance asset, driven by sovereign purchases, domestic markets, and sectoral schemes, with annual demand projected above 700 Mt and supply constrained by timelines, levies, and CA requirements.
GOCO2 commits €2.5bn to industrial CO2 capture and transport in Western France
The GOCO2 project enters public consultation with six industrial players united around a 375 km network aiming to capture, transport and export 2.2 million tonnes of CO2 per year starting in 2031.
TotalEnergies sells 35% of Danish Bifrost project to CarbonVault, a SCHWENK subsidiary
TotalEnergies reduced its stake in the Bifrost CO2 storage project in Denmark, bringing in CarbonVault as an industrial partner and future client of the offshore site located in the North Sea.
Two carbon capture projects set to launch in the UK with 500 jobs secured
The United Kingdom is launching the construction of two industrial carbon capture projects, backed by £9.4bn ($11.47bn) in public funding, with 500 skilled jobs created in the north of the country.
Frontier launches full-scale carbon management platform for the ethanol sector
Frontier Infrastructure, in partnership with Gevo and Verity, rolls out an integrated solution combining rail transport, permanent sequestration, and digital CO₂ tracking, targeting over 200 ethanol production sites in North America.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

START - 99€/year

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.