Woodside Energy-operated Angel CCS Joint Venture (Angel CCS JV) has formed a CCS partnership with Yara Pilbara Fertilisers (Yara Pilbara).
Under the alliance, the companies will work together to assess the feasibility of using CCS to decarbonise Yara Pilbara operations nearby Karratha in WA.
Angel CCS JV is proposing to develop a large-scale, multi-user CCS facility, which could be one of the largest in the Asia-Pacific region, with a potential capacity of up to five million tonnes of CO₂ annually.
This initiative is part of a broader effort to enable both Australian and international industries to reduce their carbon footprint.
Woodside said the proposed CCS hub will not only focus on domestic decarbonisation but will also explore opportunities to serve international customers.
Woodside vice-president of carbon solutions Jayne Baird said: “A multi-user CCS hub near Karratha would be ideally located to aggregate emissions from various existing industrial emissions sources across the Pilbara, providing users with advantaged access to a local, low-cost and large-scale emissions abatement solution – a competitive advantage as jurisdictions around the world implement emissions reduction targets.
“In addition to decarbonising existing industry, a CCS hub would also have the potential to facilitate the development of new lower-carbon industries such as the production of hydrogen, ammonia and green steel, supporting the diversification of the Western Australia economy.”
In a separate development, proxy advisor CGI Glass Lewis has recommended that shareholders vote against the re-election of chairman Richard Goyder and the company's climate strategy at the upcoming annual general meeting.
Glass Lewis cited concerns raised by the Australasian Centre for Corporate Responsibility regarding Woodside's board's responsiveness to shareholder climate risk management issues.
Additionally, Glass Lewis' stance aligns with the position of HESTA, an Australian pension fund and Woodside’s shareholder, which last month called for Woodside to consider adding directors capable of addressing climate-related challenges.
In response to Glass Lewis' call, a Woodside representative, as reported by Reuters, said: "The Woodside board believes Goyder is a highly capable and effective leader."
Woodside's annual shareholder meeting is scheduled for 24 April 2024.
