In a partnership with other energy companies, TotalEnergies was awarded a Greenhouse Gas Storage Assessment Permit to evaluate and appraise a promising area for CO2 geological storage, according to a company press release on Aug. 24.

TotalEnergies holds a 26% stake in the Bonaparte CCS Assessment, a joint venture responsible for the assessment project, with Woodside Energy (21%) and operator INPEX (53%).

This storage location could be essential to helping reduce greenhouse-gas emissions in the area, specifically from the nearby Ichthys LNG liquefaction an export terminal, co-founded by TotalEnergies, the press release stated.

"As a partner in both the Ichthys LNG and Bonaparte CCS Assessment joint ventures, TotalEnergies is well positioned to contribute to low carbon LNG production in Australia,” Julien Pouget, senior vice president of TotalEnergies Asia-Pacific E&P and renewables, commented in the release.

Block G-7-AP is located offshore northwest Australia, and appraisal work is expected to begin next year.

This project also aligns with TotalEnergies' initiatives that promote carbon capture and storage solutions. One of the company's decarbonization goals is to develop over 10 Mt of carbon storage capacity a year by 2030, Pouget added in the release.

“This promising greenhouse gas storage assessment permit is fully in line with our strategy to provide more energy with lower emissions, and our ambition to achieve net zero by 2050, together with society," he continued. "TotalEnergies aims to develop more than 10 Mt/year of carbon storage capacity by 2030, including storage for its facilities as well as storage services for its customers."