Approvals and permits
The State of Victoria holds four greenhouse gas assessment permits in Commonwealth waters under the Commonwealth Offshore Petroleum and Greenhouse Gas Storage Act 2006.
- VIC-GIP-001 awarded in 2012
- VIC-GIP-002 awarded in 2015
- VIC-GIP-003 awarded in 2015
- VIC-GIP-004 awarded in 2015.
The State also holds a greenhouse gas assessment permit in Victorian waters (GGAP006386(V)) under the Victorian Offshore Petroleum and Greenhouse Gas Storage Act 2010, which was awarded in 2016.
Each permit was awarded following a competitive bidding process. Permits are for a period of six years. The CarbonNet Project manages the permits on behalf of Victoria and allow the State to explore for greenhouse gas storage areas within the permits.
The regulatory framework
Australia and Victoria are world leaders in establishing a legal and regulatory framework for CCS which involves both onshore and offshore legislation. A comprehensive greenhouse gas sequestration and regulatory framework has been in place since the inception of CarbonNet.
Several key pieces of legislation underpin the sequestration of CO2 depending on whether it is onshore or offshore in Victorian or Commonwealth jurisdiction, including:
- Victoria's Greenhouse Gas Geological Sequestration Act 2008
- Victoria's Offshore Petroleum and Greenhouse Gas Storage Act 2010
- The Commonwealth's Offshore Petroleum and Greenhouse Gas Storage Act 2006
As the greenhouse gas regulatory framework in these Acts is based on long standing petroleum legislation, regulators and others can be confident in both CCS safety and implementation.
Page last updated: 26 Nov 2020