CCS will not save Santos’ Barossa LNG project, says IEEFA

CCS will not save Santos’ Barossa LNG project, says IEEFA

Despite a proposed carbon capture and storage (CCS) scheme, the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia, will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain. This makes it one of the more expensive and dirtiest gas projects in the world, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).

IEEFA’s new report claims that investing in unproven and economically unfeasible carbon capture (CCS) technologies will not only delay the Barossa project and significantly increase project costs – polluting emissions will still be released into the climate across the LNG producing operation and supply chain – making the company’s net zero target simply ‘greenwash’.

Chemical engineer and IEEFA guest contributor John Robert said that while operator Santos is desperately trying to bend its Barossa proposal into a zero carbon project, it’s simply not possible.