INPEX and Northern Territory to establish CCS hub

Jul 28 2022

A Commitment Statement has been signed between INPEX and the Northern Territory Government on Net Zero future goals.

The agreement signifies both parties’ complementary targets and initiatives for the transition to a net zero emissions future, and the establishment of new economic and social developments within a competitive environment.

Itt provides five business pillars for strategic alignment, collaboration and synergies and is supported by an agreed schedule of negotiation parameters, including:

  • Increase LNG production capacity and expand the onshore production facilities at Bladin Point; 
  • Increase stable and clean energy supply and security for the Asia/Oceania region; 
  • Create a multi-user carbon capture and storage hub at the Middle Arm Sustainable Development Precinct, acknowledging INPEX’s strong intention to lead the project as an operator; 
  • Strengthen and increase local skills development, and services and supply capability by supporting Territory businesses and people as a platform for the future; and 
  • Establishing renewable energy targets and technology, electrification, as well as nature-based solutions to support a net zero society by 2050. 

INPEX CORPORATION President and CEO Takayuki Ueda said, “INPEX is extremely pleased to be working together with the Northern Territory Government to support a cleaner energy future, with economic and social benefits flowing to Australian communities for decades to come." 

“We believe industry-government collaboration is a powerful enabler for sustainable economic development, and INPEX is focused on playing a leading role as an operator in the proposed Darwin-based carbon capture and storage hub.

“Our commitment to shaping a cleaner future, also includes achieving net zero carbon emissions by 2050 in our upstream operations – and a 30 per cent reduction in our net carbon intensity by 2030 over 2019 levels.”

Darwin hub project

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Issue 87 - May - June 2022

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