Woodside's JV Takes Flight: Partners With Yara Pilbara To Capture Carbon

Woodside Energy Group Ltd’s (NYSE:WDS) Angel CCS Joint Venture (JV) will collaborate with Yara Pilbara Fertilisers Pty Ltd to study the feasibility of using carbon capture and storage to decarbonize Yara’s existing operations near Karratha in Western Australia. 

In particular, Yara Pilbara inked a non-binding Memorandum of Understanding (MOU) with the Angel CCS Joint Venture to examine whether CCS could be used to decarbonize their current operations in the Burrup Strategic Industrial Area. 

The Woodside Energy-operated Angel CCS JV proposed developing a large-scale, multi-user CCS hub to aid Australian and international industries decarbonize. 

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Woodside Vice President Carbon Solutions Jayne Baird said, “A multi-user CCS hub near Karratha would be ideally located to aggregate emissions from various existing industrial emissions sources across the Pilbara, providing users with advantaged access to a local, low-cost and large-scale emissions abatement solution – a competitive advantage as jurisdictions around the world implement emissions reduction targets.”

“In addition to decarbonising existing industry, a CCS hub would also have the potential to facilitate the development of new lower-carbon industries, such as the production of hydrogen, ammonia and green steel, supporting the diversification of the Western Australia economy.” 

In February, Woodside secured a $1.4 billion deal, selling a 15.1% stake in Scarborough JV, reinforcing its position as an operator.

Price Action: WDS shares are up 0.25% at $20.12 premarket on the last check Friday.