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19 June 2008 - The Australian government is clearing the way for millions of tonnes of carbon dioxide to be stored under the sea.
Resources Minister Martin Ferguson told the Canberra parliament that the move would enable the gas to be safely stored for many thousands of years, with the potential to substantially reduce Australia's greenhouse gas emissions.
Mr Ferguson was introducing amendments to offshore petroleum law, which, he said, would enable a key component of the carbon-dioxide capture and geological storage (CCS) process to be actively pursued by industry.
"Companies are keen to identify suitable storage sites to match their parallel development of carbon dioxide capture from coal or gas powered electricity generation and from other industrial and extractive processes," he said.
The bill focuses on access and property rights for greenhouse-gas injection and storage in Commonwealth offshore water and provides a management system to ensure safe storage.
A complicating factor is that the geological formations providing oil and gas are often the same as those suitable for storage.
The government would balance the needs of the new storage industry with the rights of the petroleum industry when both were operating in the same area, Mr Ferguson said.
The impact on other uses like fishing, shipping, defence and telecommunications; and indigenous rights and environment protection would also be taken into account. Exploration for CCS sites would be allowed.
If the government was satisfied that a site was safe, gas could be stored there at an agreed rate and total volume. Initially, storage would be limited to carbon dioxide, although this could be extended in the future.
Mr Ferguson said the government was closely watching international developments in CCS. It would also wait for a report by a parliamentary committee before completing the process.
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