Australia Puts $107M Toward Carbon Capture Project

Law360, New York (February 10, 2012, 2:16 PM EST) -- The Australian government is putting AU$100 million (US$107 million) toward the country’s second carbon capture and storage project, energy officials announced Friday.

The $1 billion CarbonNet project will capture carbon emissions from power and industrial plants in southeastern Australia, where new coal industries have cropped up in recent years.

The national government is contributing $70 million to the project, and the Victorian government is contributing $30 million to support feasibility studies for the project, which was one of two CCS projects in Australia to be short-listed...
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