Investment in CCUS

Question

During Parliamentary debates on amendments to the Sea Dumping Act on 8th November 2023, Senator the Hon Jenny McAllister stated that, ''...the government considers that carbon capture and storage technology will need to stand on its own two feet in its commercial viability.''5 She also noted that in the previous year (2022), the Labor government diverted CCS subsidies from the previous Liberal National government towards other priorities. 1. Since the statement quoted above on the 8th November 2023, how much government funding has been put, either directly or indirectly, towards CCUS? Please include (but do not limit your answer to): a) Any funding for CCS projects, including R&D, such as Australia's Economic Accelerator (AEA) Seed grant program b) Any funding that facilitates, streamlines, or fast tracks CCS projects, such as assistance via the Major Projects Facilitation Agency (MPFA) c) Any geological mapping, exploration, or assessment of geological formations for the purpose of carbon dioxide (CO2) storage via Geosciences Australia and programs such as the Resourcing Australia's Prosperity (RAP) program d) Any research on CCS through the Commonwealth Scientific and Industrial Research Organisation e) Any CCS projects with bilateral funding agreements involving the federal government, such as CarbonNet 2. Section 10A of the Future Made in Australia Act 2024 prohibits any Future Made in Australia (FMIA) support be provided for coal, crude oil or natural gas etc. Can the Department and Government confirm whether this prohibition will extend to CCUS projects associated with the production or use of fossil fuels?

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• BI-090_Whish-Wilson_Investment in CCUS_DISR.pdf (opens in a new tab)