Northern Territory Carbon Capture Utilisation and Storage Hub Report

This report serves as the first document in the Northern Territory Low Emission Carbon Capture Storage and Utilisation Hub Business Case project. It outlines the vision for a Carbon Capture Utilisation and Storage (CCUS) Hub in the Northern Territory (NT) and aims to establish a shared understanding among government and industry stakeholders regarding its development. The report addresses three main areas: macro-economic drivers, technical definitions and risk reduction studies for the CCUS hub, and the business case for investment and economic returns. The NT's abundant natural resources and its strategic location for energy exports position it as a key player in decarbonisation efforts. The report details the collaborative process undertaken to develop a common vision for the CCUS Hub, including stakeholder engagement and the identification of value drivers. It also presents a pathway for CO2 capture and storage growth from 5 million tonnes per annum to over 25 million tonnes per annum by 2040, emphasizing the importance of collaboration for successful implementation.