Santos' Moomba Carbon Capture and Storage (CCS) project has achieved a major milestone for emissions reduction technology in Australia after receiving the single largest issuance of Australian Carbon Credit Units (ACCUs) from the Clean Energy Regulator (CER). The CER confirmed the issuance of 614,133 ACCUs to Santos under the approved CCS method, covering the Moomba CCS project's initial six months of operations from September 2024 to March 2025.

Project Performance and Storage Capacity

The Moomba CCS project passed its first year of operations earlier this month, with the company's Q3 results reporting that 1.3 Mt of CO2e has been safely and permanently stored to date. At full injection rates, the Moomba CCS facility stores more CO2e every four days than 10,000 electric vehicles avoid in one year. The full injection rate is specified at 1.7 Mt CO2e per annum.

The calculation for the electric vehicle comparison assumes an intensity of 0.25 MtCO2/MWh, based on DCCEEW National Greenhouse Account Factors 2024, and 190 Wh/km for generation and consumption/km according to EV-database.org Energy Consumption data for the vehicles. It also assumes ICE Vehicle emissions intensity of 200 gCO2/km based on NTC Carbon Dioxide Emissions Intensity for New Australian Light Vehicles 2021, and 12,100 km travelled based on the ABS Survey of Motor Vehicle Use, Australia.

Industry Significance and Economic Potential

Santos Managing Director and Chief Executive Officer Kevin Gallagher stated that Moomba CCS demonstrates the real potential for large-scale emissions reduction to be delivered by carbon capture and storage projects in Australia. Gallagher emphasized that policymakers should seize the opportunity to deploy CCS to reduce emissions faster, at scale and cost competitively, particularly when Australia has a unique and natural advantage in carbon capture and storage that is complemented by a well-established, world-class regulatory regime administered by the Clean Energy Regulator.

Leading global energy research firm Wood Mackenzie estimates that Australia could unlock up to AUD 600 billion in revenue by creating a CCS industry and becoming a storage hub for the Asia-Pacific region, according to its May 2024 report, “Can Australia become APAC's CCS hub of choice?”

Market Interest and Future Applications

Gallagher indicated that Santos is seeing customer interest in both Australia and Asia for the CCS technology. He described the project as a real pathway to green steel and green manufacturing today, and an opportunity to create real jobs of the future that are skilled, well-paid, and secure. The CEO characterized Moomba CCS as a great example of the just transition in action.

Historic Achievement

The project represents several firsts, according to Gallagher's statements. He described the achievement as making history at Moomba, noting it is a first for Santos, South Australia, and Australia in large-scale onshore CCS. Gallagher expressed his belief that bringing this project to fruition has started an incredible new chapter in Australia's energy transition, which could make Australia a carbon capture and storage superpower.

The announcement was made on November 3, 2025, marking a significant development in Australia's carbon capture and storage capabilities and in the country's broader emissions-reduction efforts.

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