Courier Mail
Friday 6/3/2009 Page: 40
SANTOS is considering halting its carbon capture and storage project in the Cooper Basin due to weak oil prices and as the initial carbon price under the planned emissions trading scheme is too low to make it economical.
The mining industry is generally baulking at imminent action to dramatically cut carbon emissions and meantime more Australian projects aimed at establishing a low-emissions future for coal and gas are biting the dust as developers cite cost pressures.
Projects have recently been abandoned in Australia by the likes of Shell, Anglo American, BP, Rio Tinto and General Electric. Santos spokesman Matt Doman said: "When CCS will be proven up remains unknown. Even if that could happen, 80% of the (emissions cut) benefit can be delivered reliably and affordably by using gas-fired stations with technology that exists today (and) has a certain cost and higher reliability."
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