The Western Australian (WA) Government is developing a legislative framework for the transport and geological storage of greenhouse gases in the State.
In a statement, the State Government said the move shows its continuous support for the industrial and resources industries’ transition to net zero emissions.
The Petroleum Legislation Amendment Bill (B) 2023 intends to establish a greenhouse gas legislation regime comparable to the Commonwealth Offshore Petroleum and Greenhouse Gas Storage Act 2006.
Acting Mines and Petroleum Minister Sue Ellery said the Petroleum Legislation Amendment Bill (B) 2023 is one of many initiatives undertaken by the McGowan Government to support the industry in reaching net zero emissions by 2050.
“We know the majority of Western Australia’s industrial and resources sectors share our decarbonisation ambitions, and this legislative reform is an important tool in our efforts,” Minister Ellery stated.
Among the new provisions are property rights for greenhouse gas storage formations; acreage release for greenhouse gas exploration titles; retention leases and injection licences; injection; site closure; and long-term responsibility requirements.
Other possibilities include the power to limit direct access to suitable storage locations under certain conditions and the ability to transfer greenhouse gases via pipelines to depleted petroleum reservoirs and other prospective storage sites.
“Not only are the legislative amendments key to decarbonising the industry, but they will also provide the regulatory certainty needed to facilitate investment, job creation and the growth of our State,” Minister Ellery said.
The Bill, formerly known as the Petroleum Legislation Amendment (Greenhouse Gas Storage and Transport) Bill 2022, calls for changes to the Petroleum and Geothermal Energy Resources Act of 1967, the Petroleum Pipelines Act of 1969, and the Petroleum (Submerged Lands) Act of 1982.
A 12-week consultation phase will now commence for stakeholders to submit feedback on the proposed revisions.
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