May 31, 2024
FEnEx CRC, together with The Australian Trade and Investment Commission (Austrade), CCUS Network Australia (CCUSNA), and Gilbert+Tobin, hosted on Wed 22nd May 2024 the Korea-WA CCUS Industry Seminar.
Attended by 11 key representatives from 7 leading entities of the Korean Carbon Capture, Utilisation & Storage (CCUS) industry, and 44 leaders from the Australian government, industry and education sectors, the seminar focused on future partnership opportunities among Korea, Western Australia, and broader Australia for co-pursuing CCUS R&D and for enabling transboundary Carbon Capture & Storage (CCS) projects between Korea and Australia.
The seminar commenced with presentations given by each of the 7 Korean entities (Korea CCUS Association, Korea Institute of Geoscience & Mineral Resources, Korea National Oil Corporation, Hyundai E&C, GS E&C, Samsung E&A, and SK E&S) to share their strong CCUS interests and capabilities. 9 leading entities from the WA CCUS industry (CCUSNA, EnerGeo Alliance, CSIRO, FEnEx CRC, Gilbert+Tobin, Mitsui E&P Australia, Geovault, inCapture, and deepC Store) reciprocated by each presenting their CCUS activities and partnership opportunities with Korea. CCUSNA and deepC Store moderated a discussion among attendees regarding key considerations for Korea, Western Australia, and broader Australia to co-pursue CCUS R&D and enable transboundary CCS projects. The seminar concluded with a site visit of FEnEx CRC’s CCUS R&D facility located in The University of Western Australia.
Comment from Trade & Investment Commissioner of Austrade Dane Richmond
“Australia and Korea share a high degree of economic complementarity and we share the same challenges. We are at a point in our history where collaboration is crucial to our two nations.”
Comment from FEnEx CRC Independent Chair Mary Hackett
“There was a remarkable amount of knowledge, experience and vision for CCUS on display amongst the impressive cohort brought together for the Korea-WA Industry Seminar. It bodes well for a future where every plausible solution is being pursued with collaboration and vigour to manage GHG emissions.”
Comment from CCUSNA Interim Chair Rosie Johnstone
“The seminar was a great opportunity to showcase WA’s CCUS industry, and to learn about Korea’s CCUS plans. We greatly look forward to continuing this engagement.”
Comment from Gilbert + Tobin Partner Clare Pope
“We were delighted to attend and speak at this important seminar which demonstrated the increasing importance of the bilateral relationship between Australia and Korea, particularly in the emerging area of CCUS; it was great to have the opportunity to speak with attendees about our experience and expertise in advising on the legal, commercial and risk scenarios that should be considered by parties when entering into a development agreement for CCUS arrangements – either as an emitter, transporter, operator or participant in the sequestration facilities.”
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