Santos is bullish on demand for CCS
Santos ups Bayu-Undan CCS demand forecast
Australian oil and gas producer says MoUs with potential customers imply higher demand for storage at projects in East Timor
Australian independent oil and gas producer Santos has revised up its projection of demand for CO₂ storage at the Bayu-Undan CCS project offshore Timor-Leste after signing non-binding agreements with four potential customers. Santos, which aims to reach FID on Bayu-Undan in 2025, has signed memorandums of understanding (MoU) with upstream gas and LNG projects offshore Australia’s Northern Territory (NT) and in Darwin, and with an energy and industrial conglomerate in South Korea. “With Bayu-Undan CCS having a proposed pipeline capacity of 10mn t/yr from Darwin, these MoUs indicate demand in excess of that capacity” Gallagher, Santos Santos’ project envisages the collection of CO₂ at
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