The Greenhouse Gas Storage Act 2009 (Qld) - Implications for the Resources Industry

摘要

THIS ANNOUNCEMENT follows the recent passage of the Greenhouse Gas Storage Act 2009 (Qld) (GGS Act) as a significant legal step in the evolution of carbon capture and storage mechanisms in Queensland. The GGS Act provides the legal framework for the storage of carbon dioxide (or geosequestration) in natural underground reservoirs once that product is captured from an emission source, e.g. a power station. As well as establishing a new regime for carbon storage, the GGS Act establishes a regime for the interrelationship of the GGS Act with the Mineral Resources Act 1989 (Qld) (MRA) and the Petroleum and Gas (Production and Safety) Act 2004 (Qld) (P&G Act). This article outlines key issues for participants in any emerging carbon storage industry and to discuss the implications of the GGS Act on the mining and petroleum industries.