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BP invests in Santos carbon capture and storage project Santos has signed a non-binding agreement with BP to invest $13.
2 million to support Santos' Moomba carbon capture and storage (CCS) project
in South Australia.
The project plans to capture 1.
7 million tons of carbon dioxide separated from natural gas at the Moomba gas processing plant every year and reinject it into the
same geological formations.
The project also creates opportunities
for the sharing of CCS-related knowledge across BP's global business units.
Santos said in the statement that the non-binding agreement needs to finalize the terms and make a final investment decision by the end of 2020; The company has entered the front-end engineering design (FEED) phase
of the Moomba CCS project.
