Benefits of CCS
Carbon capture and storage (CCS) is a proven emissions abatement approach, permanently removing CO2 from the atmosphere.
The Global CCS Institute has prepared the Value of Carbon Capture and Storage (CCS) thought leadership report, which identifies and evaluates the benefits of large-scale investment and deployment of CCS projects, both through an economic and climate change mitigation lens.
Benefits of CarbonNet
Successful implementation of this the CarbonNet CCS project will lead to a commercial scale carbon transportation and storage system in Gippsland that will:
- safeguard existing jobs
- utilise existing skill sets
- introduce new industries and employment opportunities to the Latrobe Valley
- enable significant reduction in CO2 emissions in Victoria.
Carbon capture and storage offers opportunities for new industries to develop in the Latrobe Valley, together with ongoing employment.
The most prospective of these opportunities are:
- Hydrogen production with CCS
- Natural gas processing with CCS
- Commercial fertiliser production with CCS.
CCS is well suited to natural gas processing as typically CO2 is removed from gas before it can be transported or used.
Energy Networks Australia's Gas Vision 2050 demonstrates a net-zero emissions gas network could be achieved without the hefty power bill impacts of electrification through modelling three scenarios for a net-zero emissions future:
- green hydrogen (produced from renewable energy)
- blue hydrogen (from natural gas with carbon capture and storage)
- electrification (where all gas and gas networks are decommissioned).
According to the Hydrogen Council, achieving the hydrogen vision would create significant benefits for the energy system, the environment, and businesses around the world. By 2050 it would avoid 6 Gt of CO2 emissions, create a $2.5 trillion market for hydrogen and fuel cell equipment, and provide sustainable employment for more than 30 million people globally.
Hydrogen fuel has many benefits including:
- Zero emissions at point of use
- It can be stored and transported at high energy density in liquid or gaseous form
- It can be combusted or used in fuel cells to generate heat and electricity
- Has potential for use in transport, industry and heating.
The Hydrogen Energy Supply Chain
Once established, CarbonNet provides a viable CCS solution for the commercial phase of the world-leading Hydrogen Energy Supply Chain (HESC) project, located in the Latrobe Valley. The HESC project will be the first initiative to transport mass quantities of hydrogen across open waters (from Australia to Japan) and will demonstrate innovative world first technologies in the process. HESC is currently in pilot. The decision to proceed to a commercial phase will be made in the 2020s with operations targeted in the 2030s depending on the successfulcompletion of the pilot phase, regulatory approvals, social licence to operate and hydrogen demand.
- More about the HESC project
- Australia’s Chief Scientist Dr Alan Finkel commends world-first hydrogen plant in Victoria
Gippsland’s significant lignite reserves provide opportunities to develop a commercial fertiliser industry, servicing the food and fibre industry, bringing employment as well as domestic and international export potential, with large-scale production emissions management via CCS.
Page last updated: 25 Nov 2020