Santos and BHP agree on carbon capture plan

Energy giants Santos and BP have entered an agreement to bury up to 20 million tonnes of carbon each year in the Moomba gas fields and will now seek government financial support in the form of carbon credits.

The Australian Financial Review is reporting the agreement will see BP contribute $20 million towards Santos' proposed carbon capture and storage facility in far north South Australia.

Carbon capture and storage is expected to be an element of the federal government's soon-to-be-announced technology road map, which will seek to chart a course to low emissions, possibly net zero, by 2050.

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