Norway’s PGS will become a major shareholder in Perth-based deepC Store in exchange for PGS providing geological and geophysical advisory services. The pair said they have also agreed to explore broader collaboration opportunities in Asia Pacific for co-developing commercial scale carbon capture and storage (CCS) projects.
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.
