Santos, SK E&S team up to develop CCS projects in Australia

Australia’s LNG player Santos said it has signed a memorandum of understanding with South Korea’s SK E&S to develop CCS projects in Australia.

According to a statement on Monday, the two companies plan to support and collaborate in the development of carbon dioxide (CO2) storage facilities together with Korean CCUS Association, Australia’s CO2CRC, and Korea Trade Insurance Corporation.

Under the deal, the partners agreed to jointly develop carbon capture and storage (CCS) projects in Australia and the region, including Bayu-Undan in Timor Leste.

Kevin Gallagher, managing director and CEO of Santos, said the agreement opens the potential for broader bilateral partnership and cooperation on CCS between Australia and Korea.

Last year Santos said it had signed a memorandum of understanding to progress carbon capture and storage (CCS) at the Bayu-Undan field with Timor-Leste regulator Autoridade Nacional do Petróleo e Minerais (ANPM).

Gallagher said that CCS at Bayu-Undan would have the potential capacity to safely and permanently store about 10 million tonnes of carbon dioxide per annum.

According to Gallagher, the firm believes the Bayu-Undan reservoir and facilities have the potential to be “a world-leading CCS project.”

Santos has a 43.4 percent operating interest in Bayu-Undan, while SK E&S holds 25 percent.

Other partners include Inpex with 11.4 percent, Eni with 11 percent, and Tokyo Timor Sea Resources with 9.2 percent.

Besides Bayu-Undan, Santos and SK E&S are also partners in the Barossa development and Darwin LNG.

Most Popular

US FERC issues final SEIS for Commonwealth LNG’s project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for Commonwealth LNG's proposed LNG export plant in Louisiana. The regulator concluded that National Ambient Air Quality Standards (NAAQS) exceedances for 1-hour NO2 may be significant.

Pilot, Seapath secure final permits for Galveston LNG bunkering facility

Pilot LNG and Libra Group’s maritime unit Seapath have received final construction permits for their planned LNG bunkering facility in Galveston, Texas. The partners plan to take a final investment decision on the project in mid-2025.

TotalEnergies seals Ksi Lisims LNG deal

French energy giant TotalEnergies has signed a 20-year deal with Ksi Lisims LNG to buy LNG from the latter's planned export project in Canada. In addition, TotalEnergies will acquire a 5 percent stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project.

More News Like This

Santos: PNG LNG shipped 28 cargoes in Q1

The ExxonMobil-operated PNG LNG project in Papua New Guinea shipped 28 cargoes of liquefied natural gas in the first quarter of 2025, up by one cargo compared to the same quarter last year and one cargo less compared to the prior quarter, according to shareholder Australia’s Santos.

Santos: Barossa project 95.2 percent complete

The Barossa gas project, which will supply feed gas to the Santos-operated Darwin LNG plant, is 95.2 percent complete and remains on target for first production in the third quarter of 2025, Santos said on Thursday.

Santos says Barossa project 91 percent complete

The Barossa gas project, which will supply feed gas to the Santos-operated Darwin LNG plant, is 91 percent complete and remains on target for first production in the third quarter of 2025, Santos said on Wednesday.

TotalEnergies CEO says partners working hard on Papua LNG

TotalEnergies has a 37.55 percent operating stake in the Papua LNG project, ExxonMobil has 37.04 percent, Santos owns a...