“If you’re only capturing about 50% of the CO2, that means you’re letting the rest of it go. But the vast majority of emissions come once the gas is burned overseas.īruce Robertson, a gas industry finance analyst at the thinktank Institute for Energy Economics and Financial Analysis, said: “The bottom line here is that the Gorgon CCS plant was enormously expensive and it doesn’t work.” Wood said a fundamental problem with offsets was that they “don’t stop carbon emissions from entering the atmosphere and having severe impacts on the climate”.Ĭhevron’s CCS plant extracts CO2 from the gas after it has been drilled. Maggie Wood, executive director of the Conservation Council of WA, said Chevron had “inadvertently become the poster child for all that is wrong with carbon capture and storage”. This would be disclosed later in the year, the company said, but the shortfall related to delays in getting the project up and running.Ĭhevron owns 47% of the Gorgon LNG project with partners ExxonMobil (25%) and Shell (25%). On Friday the company said the latest five-year average would see it needing to buy more offsets, but would not say how many. Between that late start date and July 2021, 5.5Mt of CO2 was stored. The state government-set target for Gorgon to capture and store 80% of the CO2 from the gas is calculated on a five-year rolling average and in July last year Chevron said it had fallen 5.23Mt short.Ĭhevron was liable for capturing CO2 at its plant from July 2016, but technical problems meant injection didn’t start until August 2019.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |