The government of Australia has granted A$8.7-billion to Carbon Transport and Storage Company (CTSCo), a wholly-owned subsidiary of triple-listed Glencore for its carbon capture and storage project in Queensland’s Surat basin. This funding, provided by the Department of Industry, Innovation and Science (DOIIS), will enable CTSCo to conduct a front-end engineering and design study, the next step in moving the project toward a final investment decision to undertake carbon dioxide (CO2) storage at depths greater than a kilometre.
