Top and Current
Source : (remove) : Northern Territory News
RSS • JSON • XML • CSV
Top and Current
Source : (remove) : Northern Territory News
RSS • JSON • XML • CSV

Carbon capture could cost key gas players $7.5bn, new report finds

The cost to build a new carbon capture, utilisation and storage facility in the Northern Territory's Top End could hit $7.5bn according to a study released by Australia's national science agency.

A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) has revealed that major gas companies in Australia, including Santos, Woodside, and Chevron, could face up to $75 billion in costs for carbon capture and storage (CCS) to meet their net zero emissions targets by 2050. The study highlights that these companies are banking on CCS technology to offset their emissions, but the financial burden could be substantial due to the high costs associated with capturing, transporting, and storing carbon dioxide. The report questions the economic viability and scalability of CCS, suggesting that the industry might be underestimating the challenges and costs involved. It also points out that alternative strategies like reducing gas production or investing in renewable energy might be more cost-effective and environmentally beneficial in the long run.

Read the Full Northern Territory News Article at:
https://www.ntnews.com.au/business/nt-business/carbon-capture-could-cost-key-gas-players-75bn-new-report-finds/news-story/7b0ef807e8a0301dd4dd2abb851f042f


Similar Top and Current Publications
Republican lawmakers on the House Committee on Science, Space, and Technology sent a scathing letter to the Department of Energy recently, requesting for the fourth time that it reveal the scientific process used to craft its upcoming analysis of liquified natural gas (LNG) exports.
An annual gathering of scientists this week offered a glimpse into the latest efforts to answer some of the most intriguing questions about our warming planet.
A new study highlights a hidden challenge of using AI in medical imaging research -- the phenomenon of highly accurate yet potentially misleading results known as 'shortcut learning.' The researchers analyzed thousands of knee X-rays and found that AI models can 'predict' unrelated and implausible traits such as whether patients abstained from eating refried beans or beer.
Starting in 2027, a coalition of energy companies will pump four million tonnes of CO2 per year into a reservoir off the Yorkshire coast - but some experts have questioned the plan's safety.
From 2019 to 2023, there was a 25% increase in the number of articles in the database related to the subject and last year these papers represented 27.2% of all research in its journals. In terms of the countries publishing this research,
Scientists have developed a unique nanolaser. Although the dimensions of this laser are so small that its structure can only be seen through a powerful microscope, its potential is vast. With applications in early medical diagnostics,
Over the past few years, several companies — including IBM and Amazon's AWS — and academic groups have shown that error correction can produce small improvements in accuracy 2, 3, 4. Google published a result in early 2023 using 49 qubits in its Sycamore quantum processor, which encodes each physical qubit in a superconducting circuit.
A new report from the CSIRO has found nuclear energy does not stack up for Australia even after considering new parameters, with large-scale solar and big batteries still the lowest-cost option.
Nuclear power isn't a cost-effective solution for Australia to decarbonize its energy mix, according to the country's national science agency.
A Nature global survey finds that most specialists are unhappy with systems to provide science advice to policymakers.
India's leading engineering and construction conglomerate, announces a strategic partnership with climate tech startup n0c tech to deploy innovative, low cost & compact carbon capture & storage tech across industrial sectors.