Inspenet, August 16, 2023.
Chevron Corporation is investing in two carbon reduction projects in Western Australia through its subsidiaries Chevron Australia New Energies Pty Ltd and Chevron Australia Pty Ltd.
About the 2 carbon reduction projects
The company will provide financing to Carbon Sync , a Western Australia-based company that provides agricultural education and extension services, specializing in the development of soil carbon sequestration projects.
Carbon Sync is leading a pilot soil carbon sequestration project, covering up to 80,000 hectares in the agricultural and grazing region. This project marks the first carbon offset initiative in Australia based on Chevron’s policies, the company said in a press release issued on Friday.
“I am delighted that a large multinational organization has recognized Carbon Sync’s potential to change the carbon equation for WA’s agriculture industry, as well as create jobs and more investment for our state,” said Carbon Founder and CEO Sync, Louise Edmonds.
Chevron has also engaged in a multi-year research project in collaboration with Deakin University’s Blue Carbon Laboratory , with the goal of exploring potential opportunities for carbon dioxide sequestration in the region’s coastal wetlands.
The Blue Carbon Lab offers innovative research approaches to contribute to climate change mitigation and enhance the blue economy, while supporting aquatic biodiversity, economic growth, capacity building and community well-being, as mentioned in the press release.
“There has been a great deal of mystery about the size of WA’s blue carbon assets and the potential for new blue carbon opportunities through conservation and restoration of coastal wetlands. This research project seeks to address this knowledge gap,” said Blue Carbon Lab Director and Professor Peter Macreadie.
“The two projects we are part of in WA are examples of the multiple paths on that carbon reduction journey,” said Chevron Australia General Manager of Energy Transition David Fallon. “Our collaboration with Carbon Sync is expected to provide critical insights related to soil carbon projects, in a region with great potential for scale to help meet anticipated demand for Australian carbon credit units.”
Decommissioning of Thevenard Island: another major project
In a previous press release, Chevron Australia announced the successful completion of onshore decommissioning work on Thevenard Island, a significant achievement for the emerging decommissioning industry in Western Australia.
Chevron Australia detailed that the process included the plugging of 11 onshore production wells, three dewatering wells and one exploration well. Likewise, the demolition and safe disposal of three 150,000-barrel oil storage tanks was carried out, along with other production tanks, separators, flow lines, associated facilities and various auxiliary infrastructures, such as accommodation and services.
In addition, the controlled demolition of a 124.7-foot (38-meter) communications tower was carried out. In total, this initiative resulted in the extraction and recycling of more than 5,000 metric tons of disused material from the island.
Source: https://petrobanca.com/chevron-contempla-proyectos-de-compensacion-de-carbono-en-australia/
Loading...
