The financing will be used to cover Moomba project costs incurred to date and will be tapped as the project progresses to the first injection, targeted for mid-2024.
'This transaction... supports the PNG government objectives for the people of PNG to have a greater equity interest in the development of their natural resources'.
The collaboration will include an assessment of CCS pipeline transport routes from key emission sources in Gladstone, Port Bonython, and Greater Sydney to the Moomba CCS facility in the Cooper Basin.