East Timor container energy storage vehicle

Is the Bayu Undan gas field in East Timor good for CO2 storage?

The two companies, as well as Inpex and SK E&S already operate the Bayu Undan gas field in East Timor, which is seen as having good geological conditions for CO 2 storage.

What will East Timor do with the Bayu Undan CCS hub?

Ultimately, East Timor hopes to generate a storage fee and acquire carbon credits for the proposed Bayu Undan CCS hub.

What will happen to East Timor's Oil and gas revenues?

East Timor’s revenue from Bayu Undan oil and gas was more than $170 million per month during the first quarter of 2022, but those revenues will disappear once Santos shuts down production, which it is aiming to do as fast as possible.

Is East Timor interested in solar power?

East Timor President José Ramos-Horta told The Associated Press in an interview in Dili last week that his country is interested in exploring various types of renewable energy sources, including wind, sea and especially solar power. “We have plenty of sun,” he said, adding that the cost of solar technology continues to fall.

Does East Timor have electricity?

Access to electricity is a modern development for many of East Timor’s 1.3 million people, after much of the country’s infrastructure was razed by Indonesian forces during the war for independence. Recovery was slow after East Timor gained formal independence in 2002.

Will Santos decommission its FSO facility in East Timor?

Santos (ASX: STO) is preparing to decommission the floating storage and offloading (FSO) facility, as well as platforms, at Bayu Undan offshore East Timor, as soon as possible, as it accelerates plans for the giant CCS hub at the mature field.