In this rapidly emerging sector, PZE is positioned to be a transition energy partner through leveraging our experience, assets and industry connections.
Transition Energy Strategy
PZE is developing decarbonisation solutions that leverage its capabilities:
- Carbon Capture & Storage
- Compressed Air Energy Storage
- Utilisation of gas related infrastructure
- Geological carbon reduction solutions
Carbon, Capture and Storage
With our focus on the Surat & Bowen Basins, we aim to develop small-scale, low-cost, fit-for-purpose CCS to help decarbonise the energy sector and other existing industrial emissions.
Using depleted gas fields for CCS has several advantages:
- an available reservoir which has held gas for millennia
- known sealing cap rock in place
- known reservoir properties
- existing infrastructure and infrastructure corridors.
These advantages can significantly reduce subsurface risk and the extent of appraisal required and reduce development cost from the repurposing existing infrastructure and corridors.
Progress to Date
Compressed Air Energy Storage
Compressed air energy storage (CAES) is a way to store energy generated at one time for use at another time. At utility scale, energy generated during periods of low energy demand can be released to meet demand during peak periods.
CAES offers the potential for small scale, on site energy storage solutions as well as larger installations that can provide grid scale energy reserves. When electricity is required, the compressed air is released, heated, and expanded to drive a turbine generator for power production.
Depleted gas reservoirs with high permeability and a stable sealed structure offer potential for compressed air energy storage.
PZE is developing partnerships for investigation of CAES in depleted gas reservoirs.