Australia announces more than A$500m in CCS funding

The Australian government has announced a range of investments in carbon capture and storage (CCS) within its 2022-23 budget allocations. The investments include A$300m to support the development of hydrogen production and low-emission liquefied natural gas in Darwin. In addition, A$200m is earmarked for supply chain security in the Pilbara region and A$50m on gas infrastructure projects (including support for CCS pipeline infrastructure). The investments are specifically aimed at hydrogen and low-emission technologies, a shift in policy focus that follows from recent change in political leadership in Australia. The government of Anthony Albanese is expected to devote fiscal resources to transition technologies, following in the footsteps of industrial policy in the UK and the US.