Santos will operate Moomba CCS project
Australia’s Moomba CCS project moves to FID
Injection into depleted gas fields expected to start in 2024 as project qualifies for Australian carbon credits
Australian independent oil and gas producer Santos and joint venture partner Beach Energy have taken FID on the $165mn Moomba carbon capture and storage (CCS) project in South Australia, with first injections scheduled for 2024. Santos forecasts a full lifecycle cost of less than $24/t CO₂, including cash operating costs of $6-8/t. The 1.7mn t/yr Moomba project will inject CO₂ into depleted gas reservoirs. “This carbon reduction project in the South Australian outback will be one of the biggest and lowest cost in the world and will safely and permanently store 1.7mn t CO₂/yr in the same reservoirs that held oil and gas in place for tens of millions of years,” says Santos CEO Kevin Gallagher.
Also in this section
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
