Linc Energy Signs Mou For Carbon Capture And Storage (ccs) In Ucg Cavities

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5th October 2010, 05:01pm - Views: 932
Linc Energy Signs MOU for Carbon Capture and Storage (CCS) In UCG Cavities

Linc Energy has entered into a Memorandum of Understanding (MOU) with a leading European Research Centre to develop carbon capture and storage (CCS) technology for its Underground Coal Gasification (UCG) operations, CEO Peter Bond announced today.

Mr Bond said the MOU was signed with Helmholtz Centre Potsdam GFZ German Research Centre for Geosciences (GFZ) based in Potsdam, Germany.

"It establishes a framework for an exclusive working relationship for potential UCG and CCS projects," the Linc Energy CEO said.

"Under the terms of the agreement, GFZ will work on combined UCG and CCS exclusively for Linc Energy over the next three years and will conduct research to confirm the extent of CO2 storage available in remaining UCG cavities, once the UCG process is complete," Mr Bond said.

Linc Energy has agreed to contribute 24,000 per quarter towards the UCG-CCS research and will retain ownership of all intellectual property developed.

Academic evidence exists which indicates that UCG cavities are capable of absorbing significant quantities of CO2. This research also suggests that UCG cavities could absorb up to 400 times more carbon than traditional CCS methods due to the effect of the UCG process on the surrounding coal seam.

"This agreement indicates just how committed Linc Energy is to utilising stranded coal for the cleanest possible energy products, such as power and fuels, and demonstrates our intentions to create a carbon neutral commercial operating environment," Mr Bond said.

"It is well known that UCG cavities provide one of the best opportunities to store CO2 on a commercial scale. Work resulting from our agreement with GFZ will confirm the exact quantity of CO2 to be stored, including modelling the process and its applications," he said.

"Combined UCG and CCS technologies will make Linc Energy's UCG process carbon neutral, and we look forward to working in close collaboration with GFZ over the next three years," the Linc Energy CEO said.

"With a potential efficiency of 400 times that of other CCS methods when storing CO2 in UCG cavities, UCG operations could end up providing the CO2 sinks required in many parts of the world whilst also producing cleaner energy.

"Ironically, depending on the price that the world ultimately places on carbon, the UCG cavities themselves may have a comparable assets value to that of the energy produced from them," Mr Bond said.

Media Enquiries: Greg Meyer Linc Energy Media Manager
Email [email protected]
Telephone +61 457 761 213

ABN: 60 076 157 045
ACN: 076 157 045
Smellie & Co Building,
32 Edward Street
(GPO Box 1315)
Telephone: (07) 3229 0800
Facsimile: (07) 3229 6800

SOURCE: Linc Energy

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