The Australian government has granted A$5 million (US$3.5 million) of funding for deepC Store’s offshore floating carbon capture and storage (CCS) hub dubbed CStore1. The proposed project, expected to store carbon dioxide (CO2) from Japan would be Asia Pacific’s first floating multi-user CCS hub, said the Perth-based company.
The grant will help deepC Store (dCS) carry out pre-front-end engineering and design (FEED) works, as well as identify and evaluate preferred CO2 injections sites offshore Australia.
The funding will also enable completion of key commercial negotiations with CStore1 partners that underpin the project’s bankability, and with Nippon Steel Corporation for CO2 offtake from NSC’s steel work in Japan, the CCS developer said today.
dCS’s CStore1 partners consist of Add Energy Group, Commonwealth Scientific and
Industrial Research Organisation (CSIRO), JX Nippon Oil and Gas Exploration Corporation, Kyushu Electric Power, Mitsui O.S.K. Lines, Osaka Gas and Osaka Gas Australia, Technip Energies and Toho Gas.
The CStore1 project has a planned CO2 injection capacity of between 1.5 and 7.5 million tonnes per year.
Additionally, the CStore1 project design is modular and scalable, with additional CO2 carriers and floating storage injection (FSI) hub facilities that can be added into the network to increase injection capacity. This approach will also contribute to the reduction of the unit cost per tonne of CO2 to be injected through improvements in economies of scale, the company said on its website.
CStore1 will establish Australia’s and Asia Pacific’s first large-scale offshore multi-user hub infrastructure for receiving and storing CO2 from multiple sources and industries, according to the company.
“This openness and flexibility are a unique value of the project, as other CCS projects only can be accessed by one or very few CO2 sources. It makes it possible for any industrial emitter that is close to sea and within reasonable shipping distance from the CStore1 project’s CO2 Floating Storage and Injection (FSI) hub facility site location in offshore Australia to get started with carbon capture at industrial scale and to abate its CO2 emissions via the CStore1 project,” noted dCS.
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