GE wins 400M contract for Carbon Capture project

(Reuters)

GE was awarded a 400M contract to deploy compression equipment for what will be the world's largest carbon capture and sequestration (CCS) project off of the West coast of Australia.

GE's Oil and Gas Unit will provide LNG technology for one of the world's largest untapped natural gas fields in Gorgon.

The company was selected by Chvron to deliver on the technologically complex project which will deliver cleaner energy. The demand for natural gas is predicted to increase by more that 67% by 2030. The Gorgon project is estimated to cost close to A$43billion for the firts phase of its development, with firts gas in 2014. The project itself has an economic life of about 40 years.

Sale and purchase agreements has already been signed for LNG exports to two of the world's largest import markets- Japan and South Korea- as well as India and China.

The CCS process, prior to liquefaction, carbon doioxide will be stripped out and injected into depleted natural gas wells 1,300 metres deep for storage.

The project is a joint venture between Chevron Autrailia, ExxonMobil and Shell

Commodity Index Graph

• Corporate Social Responsibility The Energy Chamber promotes the practice of Corporate Social Responsibility in Trinidad and Tobago and the wider Caribbean, with particular emphasis on accountability and transparency, volunteerism and waste disposal.
• Promoting Energy Services The Energy Chamber promotes the growth and development of the Trinidad and Tobago and wider Caribbean energy services sector in both domestic and export markets.
• Competitive Energy Sector The Energy Chamber provides its membership on up to date information on developments in the energy sector. Check our commodity index and energy activity charts.
• The Safe to Work Initiative (STOW-TT) improves the safety performance and increases business opportunities for smaller energy service contractors.
• The
  EICDI The Energy Chamber is working with contractors, operators, training providers and other stakeholders to develop an industry- wide system for assessing and certifying technical competencies in the energy sector.