Potential carbon dioxide storage sites in the Gippsland, Bass or Otway Basins are likely to be well beyond coastal waters and therefore subject primarily to Commonwealth legislative power, says a report to the Australian Greenhouse Office.
No suitable sites in NSW: Geological studies have, as yet, found no suitable site for geosequestration located in New South Wales, and recent policy statements from the NSW Government do not indicate that it is considering geosequestration as a solution to greenhouse emissions.
NSW Benchmark Scheme: NSW has adopted a unique Greenhouse Benchmark Scheme to address the issue of greenhouse emissions. The scheme requires electricity retailers and other parties to meet mandatory targets for abating the emission of greenhouse gases from electricity production and use. The Greenhouse Benchmark Scheme promotes capture of carbon dioxide from the atmosphere in forests as an activity which will facilitate the issue of an abatement certificate under the Scheme. However, the sequestration of carbon dioxide in onshore or offshore natural Reservoirs is not contemplated.
Reference: "A Report to the Australian Greenhouse Office on Property Rights and Associated Liability Issues, 2005", p.56-57. Contact: The Communications Director, Australian Greenhouse Office, Department of the Environment and Heritage, GPO Box 787, Canberra ACT 2601, email: communications@greenhouse.gov.au website: http://www.greenhouse.gov.au/publications