New Program To Accelerate Ccs Deployment

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8th December 2009, 01:42am - Views: 673





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MEDIA RELEASE PR37448


New Program to Accelerate CCS Deployment


CANBERRA, Dec. 7 /Medianet International-AsiaNet/ --


    The Global CCS Institute announced today a new program of support to accelerate the

deployment of carbon capture and storage projects worldwide. 


    Currently funded by the Australian Government, the Global CCS Institute will provide

approximately AUD $50 million annually for direct support of large-scale CCS projects

around the world to assist them move through the critical stages of project development

to operation. 


    Global CCS Institute CEO Nick Otter said "Our financial resources are focused

towards those projects that promise the greatest return towards delivering our objective

of accelerating the construction and operation of CCS projects." 


    "We want to engage with those projects with the greatest need, which face real

obstacles to their success, and towards which we can have an immediate impact," he said. 


    A recent study released by the Global CCS Institute showed that there are 55 fully

integrated, commercial-scale projects around the world, each at a different stage of

planning but all facing similar barriers to their development. The assistance announced

today will target a diverse range of projects with support to undertake concept and pre-

feasibility studies, or to contribute to specific aspects of feasibility and Front End

Engineering and Design (FEED) studies. 


    The program is designed in recognition of the fact that governments around the world

have, or are considering, allocating public funding towards CCS projects to help bridge

the commercial gap. As a result, the Global CCS Institute's funding will primarily focus

on removing barriers facing specific projects, as well as assisting with delivering

regulatory frameworks that enable quicker deployment, and linking potential project

partners and investors. 


    The program will aim to capture relevant knowledge from projects it supports to

allow the broader industry to learn from project experiences, and increase their

prospects for success.


    The support provided by the Global CCS Institute will be allocated through

engagement with projects on an ongoing basis, and may be allocated for single or

multiple years to meet the specific needs of different projects. In order to kick start

the process formal applications are being sought by January 8, 2010.


    The Global CCS Institute 'Project Funding and Support Program' details and





    For further information please contact: 

    Chandran Vigneswaran 

    Communications & Media Global CCS Institute 

    P +61 (0) 2 6175 5331 

    M +61 (0) 414 762 390

    E chandran.vigneswaran@globalccsinstitute.com

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    SOURCE: Global CCS Institute


    Notes to editors

    * The Global CCS Institute is an initiative to accelerate the worldwide commercial

deployment of at-scale CCS, whereby CO2 is captured, transported and then injected deep

underground for secure, long-term storage.

About the Global CCS Institute:

    * The Global CCS Institute has unprecedented international support, with more than

30 national governments and over 130 leading corporations, non-government bodies and

research organisations signed on as Members or Collaborating Participants.

    * Announced by the Australian Government in September 2008, the Global CCS Institute

was formally launched in April 2009 and became an independent legal entity in July 2009.

    * Recognising the important contribution CCS can make to tackling our energy

security challenges, the Australian Government has currently committed AUD$100 million

annual funding to ensure the ongoing success of the organisation.


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