Santos will operate Moomba CCS project
Australia’s Moomba CCS project moves to FID
Injection into depleted gas fields expected to start in 2024 as project qualifies for Australian carbon credits
Australian independent oil and gas producer Santos and joint venture partner Beach Energy have taken FID on the $165mn Moomba carbon capture and storage (CCS) project in South Australia, with first injections scheduled for 2024. Santos forecasts a full lifecycle cost of less than $24/t CO₂, including cash operating costs of $6-8/t. The 1.7mn t/yr Moomba project will inject CO₂ into depleted gas reservoirs. “This carbon reduction project in the South Australian outback will be one of the biggest and lowest cost in the world and will safely and permanently store 1.7mn t CO₂/yr in the same reservoirs that held oil and gas in place for tens of millions of years,” says Santos CEO Kevin Gallagher.
Also in this section
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
