BPH contributes to Net Zero goal with Baleen Well objectives

By Hannah Goldman. Published at Feb 9, 2021, in Energy

BPH Energy Ltd (ASX:BPH) has released commentary by Chairman of investee company Advent Energy Ltd, David Breeze.

In responding to recent press coverage which outlined plans to explore for gas on the NSW continental, Breeze affirmed Advent’s support for Net Zero and provided detail on the Baleen well drilling objectives.

The Chairman asserted his belief that the company will play a direct role in achieving the Net Zero by 2050 plan, especially in New South Wales, explaining: “It aims to do this in two ways: First, by finding gas closest to Australia’s biggest domestic energy market; gas which can be used to provide reliable back-up for increased uptake of renewable energy in NSW.”

“Second, through its plans to explore for opportunities in offshore NSW for carbon capture and storage (CCS), a key clean energy technology.”

Mr Breeze also highlighted CCS (Carbon Capture and Storage) as an essential technology in achieving net zero, a stance shared with the UK, one of the few countries with specific plans for net zero by 2050.

Likewise, the Australian Federal Government has increasingly acknowledged the importance of CCS in decreasing emissions, in line with its clean energy technology roadmap. The US Government, under President Biden, has identified CCS as a key clean energy technology in its plans for Net Zero by 2050.

Right now, NSW has not located any suitable onshore sites for large scale carbon storage. Mr Breeze explained Advent’s plan for an offshore Sydney Basin.

“Our plan for NSW is to use the results from our offshore drilling for gas, to also enable us to assess the offshore Sydney Basin for carbon storage.

“At this stage, we do not know if our drilling will encounter suitable carbon storage rocks. But based on the offshore seismic results we have obtained so far, we are optimistic. Independent published research by Geoscience Australia and the CO2CRC suggests large scale CO2 storage may be feasible in parts of the offshore Sydney Basin.

“If our gas and carbon storage exploration program is successful, and I am optimistic that it will be, it could be a real game changer for NSW and Australia in transitioning to a clean energy and net zero future. I look forward to discussing our plans with the State and Federal governments, and with the Opposition”.

About CCS

In December 2020, Advent Energy appointed Professor Peter Cook as its CCS Advisor.

Professor Cook is one of the world’s leading experts on CCS, with an extensive record of research and publication on the topic. He has been an IPCC Coordinating Lead Author and received the Greenman Award from the IEA Greenhouse Gas Programme for his work on CCS.

The recent number of overseas companies announcing plans for CCS epitomises its growth and importance.

The Norwegian company Equinor has outlined its Northern Lights Project with construction starting this year. The Project will involve permanent storage of many millions of tonnes of carbon dioxide from various onshore sources, in a reservoir 2600 meters under the seabed.

The US company Exxon Mobil has just announced a new company, Low Carbon Solutions, which will spend $3 billion to 2025 on clean energy technologies, with CCS a particular focus.

In Australia, the WA Gorgon LNG Project is geologically storing 3-4 million tonnes of CO2 a year at its Barrow Island facility.

The Norwegian Sleipner Project commenced offshore CO2 storage in 1996 and since that time has safely and securely stored approximately 20 million tonnes of CO2 in reservoir rocks 1000m under the seafloor.


Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


SEE THE PORTFOLIO

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X