Santos and BP have entered into a non-binding agreement which could lead to BP investing $20m to support Santo’s Moomba carbon capture and storage (CCS) project in Australia.
The project aims to capture 1.7m tonnes of carbon dioxide (CO2) currently separated from natural gas at the Moomba gas processing plant each year.
That CO2 will then be reinjected into the same geological formations which have safely and permanently held oil and gas in place for tens of millions of years.
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