Vopak and Northern Territory Government have signed a memorandum of understanding (MOU) to develop a carbon dioxide (CO2) import terminal in the Middle Arm Sustainable Development Precinct.
The common user hub will support the development of CO2 imports, storage and handling in the Darwin area and help companies manage their emissions.
Imported CO2 can be captured from industrial plants or neighbouring countries. It will be stored in large tanks before being transferred to underground CCS facilities, or recycled for utilisation.
Eva Lawler, Chief Minister of The Northern Territory, said the Lawler Labor Government is committed to advanced manufacturing and green energy production.
“CCUS capability is a core component of the circular economy design of this Precinct,” she said, adding that the project contributes to the Territory’s goal of a A$40bn economy by 2030 and transition to Net Zero by 2050.
Paul Kanters, Managing Director, Vopak Terminals Australia, said it has been contributing to energy security and economic development in the area for the last 20 years, and the project not only signifies its ongoing commitment but also supports decarbonisation ambitions.
“The development of CO2 infrastructure is fully in line with Vopak’s global strategy to develop infrastructure solutions to accelerate the energy transition,” he said.
Vopak recorded net profit of €213m in the first half of 2024.
The company is accelerating new energies and sustainable feedstocks by entering the FEED phase for CO2 infrastructure in Rotterdam, and commissioned repurposed capacity for renewable feedstock in Brazil and vegetable oil in the US, according to a statement.
Together with Gasunie, it is exploring options to use the EemsEnergyTerminal for ‘longer than initially planned’, exploring LNG, hydrogen and CCS.