Santos (ASX:STO) said that its next milestone at the Moomba carbon capture and storage project in South Australia is the transportation of carbon dioxide from hard-to-abate industries such as the Whyalla or Port Kembla steelworks as well as from large-scale industrial hubs across Asia to the facility, according to a Friday statement.
The firm took a final investment decision for the Moomba project, the seventh largest such project in the world, in 2021.
The firm is working with customers in Japan to look at expanding the project.
It is also advancing plans for a proposed carbon capture and storage project hub at the Bayu-Undan gas field in the Timor sea, and it is working with the government of East Timor to advance the memorandum of understanding for the hub.
A recent Low Emissions Technology Australia and EY report noted the potential of carbon capture and storage as an industry that could inject tens of billions into the Australian economy and deliver thousands of new jobs.
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