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Climate Change

Australia's Santos aims for 'world's largest' carbon capture plant

Decarbonization tech gains traction in resource-rich country to offset emissions

Santos decided last year to build a $165 million carbon capture facility in central Australia. (Photo courtesy of Santos)

SYDNEY -- Australian oil and gas company Santos is planning a carbon capture and storage project that could sequester up to 10 million tons of carbon dioxide a year as it looks to make decarbonization a core part of its business portfolio.

Design work has begun on a facility at the Bayu-Undan gas field between northern Australia and East Timor. It "has the potential to be the largest CCS project in the world," Santos said in a statement, with annual storage set to account for a quarter of current global capacity. The company will make a final decision on the project as early as next year.

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