THE Australian Government has budgeted $18.5 million to establish a regulatory system for carbon capture and storage, Industry and Resources Minister Ian Macfarlane told the South-East Asia Australia Offshore Conference this morning.
“Once this is in place, industry will be able to explore for and use sites for carbon dioxide storage,” he said.
Carbon capture and storage acreage would be released in a way similar to the current petroleum exploration release system, he said.
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