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.
