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SK E&S wins mining rights for carbon storage exploration in Australia

Corporate Newsroom 16:46 September 06, 2022

SEOUL, Sept. 6 (Yonhap) -- SK E&S Co., a leading South Korean liquefied natural gas provider, said Tuesday it has won a joint permit with several other global energy companies for the exploration of potential carbon dioxide storage off northwestern Australia.

SK E&S will own a 30 percent stake in the permit to explore the G-11-AP mine block, located in the Bonaparte Basin on the coast of Western Australia, over the next three years, before deciding whether to pursue a formal project, the company said in a release.

The Bonaparte Basin is known for its deep saline aquifers -- underground layers of water-bearing permeable rocks and other materials that are saturated with brine -- that make it an optimal site for carbon capture storage opportunities.

SK E&S formed in March a consortium with Chevron, BP, Total and Australian firms, like Santos and Woodside, seeking to gain the permit for the mining block in the area.

SK E&S wins mining rights for carbon storage exploration in Australia - 1

elly@yna.co.kr
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