Name: CStore1: Asia-Pacific’s First Floating Carbon Capture Hub
Uploaded: 2024-01-02T23:16:57.367Z
Duration: 342.5
Description: In this video, Daein Cha introduces DeepC Store's groundbreaking Carbon Capture Storage project, detailing their innovative approach to secure CO2. With a dynamic vision, Daein unveils their "design one, build many" concept, aiming to revolutionize offshore CO2 storage and provide solutions for hard-to-abate sectors globally by 2030.

Daein Cha Export 4.mp4

Daein Cha Export 2.vtt

Subtitles

{{00:00:07}}
Hello, my name is Daein Cha.

{{00:00:08}}
I'm the managing director of DeepC Store.

{{00:00:11}}
DeepC Store is a CCS project
developer and operator headquartered

{{00:00:15}}
in Perth, Western Australia.

{{00:00:23}}
So we have three main milestones from
a CO2 supply procurement perspective.

{{00:00:30}}
We have identified up to 15 million
tons per annum of CO2 offtake from Japan

{{00:00:36}}
for our use for projects in Australia,
but we also engage with international

{{00:00:42}}
and other domestic CO2 suppliers.

{{00:00:45}}
From a CO2 acreage procurement
perspective, we look forward to

{{00:00:49}}
obtaining acreage through the
offshore bidding process ongoing in

{{00:00:54}}
2023 and offshore Australian waters.

{{00:00:57}}
And from a building of the CStore1
project perspective, we have a letter

{{00:01:01}}
of intent executed with Mitsui O.S.K.

{{00:01:03}}
Line and Technip Energies to build
a key facility for our CCS project.

{{00:01:15}}
So we are particularly interested
in lowering the unit cost of CCS and

{{00:01:23}}
R&D program that we have launched
recently with several Australian and

{{00:01:28}}
Japanese industry partners is to look
at the low pressure and temperature

{{00:01:34}}
condition liquefied CO2 transportation.

{{00:01:38}}
And that project is executed,
together with Future Energy Export

{{00:01:44}}
CRC, Curtin University, Seoul
National University, and us.

{{00:01:49}}
And we look forward to demonstrating
the technology of the low pressure

{{00:01:54}}
and temperature liquefied CO2
transportation so that we can further

{{00:01:58}}
unlock the CCS potential for all
hard to abate sectors to utilize.

{{00:02:11}}
Our CStore1 has a CO2 injection
capacity of 3 million tons per annum.

{{00:02:19}}
Our project design life is 25 years.

{{00:02:22}}
So 3 times 25 is 75 million
tons per annum that our project,

{{00:02:28}}
each project can deliver.

{{00:02:30}}
And our project is a design one, build
many concept where the CO2 carriers and

{{00:02:36}}
the floating CCS hub can be redeployed.

{{00:02:39}}
The design can be redeployed to unlock
other offshore CO2 injection sites.

{{00:02:45}}
So we really look forward to initially
commercializing our first project and then

{{00:02:51}}
to roll out multiple of these projects
to help multiple, hard to abate CO2

{{00:02:58}}
emitters, to reduce their CO2 emissions.

{{00:03:08}}
So the two main challenges we
have - one is policy support.

{{00:03:16}}
As the Australian government
had a transition of power back

{{00:03:21}}
in 2022, there was a bit of a
pause of CCS policy development.

{{00:03:29}}
And during that time, the United States,
Europe continued to launch policies

{{00:03:33}}
that are very supportive of CCS.

{{00:03:36}}
So we have to manage our, we have to
remain attractive for global capital

{{00:03:43}}
to support us to develop projects.

{{00:03:45}}
And that is an ongoing challenge.

{{00:03:47}}
The second is social acceptance of CCS.

{{00:03:52}}
In Australia, there's a view that CCS
is a technology to prolong fossil fuel

{{00:03:59}}
industries whereas we are CO2 suppliers
who promote CO2 emission reduction.

{{00:04:07}}
There's steel manufacturers, cement
manufacturers, power generators,

{{00:04:11}}
ammonia producers, fertilizer producers.

{{00:04:14}}
Actually, they're all non oil and gas
related companies and they require a CO2

{{00:04:21}}
emission reduction solution as much as
the oil and gas company does, even more.

{{00:04:26}}
So the calibration of the view that CCS
is not just for oil and gas, but for

{{00:04:33}}
the entire hard to abate sector that
continues to be an ongoing challenge for

{{00:04:39}}
us in Australia, which is a very Australia
specific problem because the rest of

{{00:04:44}}
the world has quite a different view
on the contribution that CCS can offer.

{{00:04:50}}
CStore1 is a design one build many design
concept and of the vast CO2 storage

{{00:05:04}}
potential in Australia, over 70 percent of
the CO2 injection potential is offshore.

{{00:05:11}}
So we look forward to initially launching
the first commercial scale project

{{00:05:16}}
to be operational ready by 2030 and
based on that technical and operability

{{00:05:22}}
demonstration, we look forward to
rolling out multiple CStore1 to unlock

{{00:05:27}}
multiple offshore CO2 storage locations
to offer CCS to the wider hard to

{{00:05:33}}
abate sector of Australia and overseas.

I'm the managing director of DeepC Store.

DeepC Store is a CCS project
developer and operator headquartered

So we have three main milestones from
a CO2 supply procurement perspective.

We have identified up to 15 million
tons per annum of CO2 offtake from Japan

for our use for projects in Australia,
but we also engage with international

From a CO2 acreage procurement
perspective, we look forward to

obtaining acreage through the
offshore bidding process ongoing in

And from a building of the CStore1
project perspective, we have a letter

Line and Technip Energies to build
a key facility for our CCS project.

So we are particularly interested
in lowering the unit cost of CCS and

R&D program that we have launched
recently with several Australian and

Japanese industry partners is to look
at the low pressure and temperature

And that project is executed,
together with Future Energy Export

CRC, Curtin University, Seoul
National University, and us.

And we look forward to demonstrating
the technology of the low pressure

and temperature liquefied CO2
transportation so that we can further

unlock the CCS potential for all
hard to abate sectors to utilize.

Our CStore1 has a CO2 injection
capacity of 3 million tons per annum.

So 3 times 25 is 75 million
tons per annum that our project,

And our project is a design one, build
many concept where the CO2 carriers and

The design can be redeployed to unlock
other offshore CO2 injection sites.

So we really look forward to initially
commercializing our first project and then

to roll out multiple of these projects
to help multiple, hard to abate CO2

So the two main challenges we
have - one is policy support.

As the Australian government
had a transition of power back

in 2022, there was a bit of a
pause of CCS policy development.

And during that time, the United States,
Europe continued to launch policies

So we have to manage our, we have to
remain attractive for global capital

In Australia, there's a view that CCS
is a technology to prolong fossil fuel

industries whereas we are CO2 suppliers
who promote CO2 emission reduction.

There's steel manufacturers, cement
manufacturers, power generators,

Actually, they're all non oil and gas
related companies and they require a CO2

emission reduction solution as much as
the oil and gas company does, even more.

So the calibration of the view that CCS
is not just for oil and gas, but for

the entire hard to abate sector that
continues to be an ongoing challenge for

us in Australia, which is a very Australia
specific problem because the rest of

the world has quite a different view
on the contribution that CCS can offer.

CStore1 is a design one build many design
concept and of the vast CO2 storage

potential in Australia, over 70 percent of
the CO2 injection potential is offshore.

So we look forward to initially launching
the first commercial scale project

to be operational ready by 2030 and
based on that technical and operability

demonstration, we look forward to
rolling out multiple CStore1 to unlock

multiple offshore CO2 storage locations
to offer CCS to the wider hard to

Carbon Capture Storage

Expert Insight

In this video, Daein Cha introduces DeepC Store's groundbreaking Carbon Capture Storage project, detailing their innovative approach to secure CO2. With a dynamic vision, Daein unveils their "design one, build many" concept, aiming to revolutionize offshore CO2 storage and provide solutions for hard-to-abate sectors globally by 2030.