8th Sep 2009 07:00
Altona Energy Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
8th September 2009
Altona Energy Plc ('Altona' or 'the Company')
Joins Global Carbon Capture and Storage Institute as Foundation Member
Altona Energy Plc, the AIM listed Australian based energy company, is pleased to announce that it has become a Foundation Member of the Global Carbon Capture and Storage Institute ('the Global CCS Institute'), a worldwide organisation focussed on accelerating the commercial deployment of carbon capture and storage ('CCS') projects and the promotion of the global reduction of carbon dioxide emissions. Amongst others, 23 national governments including all the G8 are Foundation Members.
The Company's Arckaringa Coal to Liquids and Power project ('the Arckaringa Project') has been designed to be 'CCS Ready' with carbon capture technology included as an integral feature of its planned specifications. The final stage of the project's Bankable Feasibility Study for a 10 million barrel per year Coal to Liquid ('CTL') plant with a 560 MW co-generation power facility will incorporate extensive development work on the technical and economic aspects of CCS, as well as other measures to mitigate greenhouse gas emissions.
Altona Managing Director Chris Schrape said, "To be a member of a worldwide organisation focussed on the reduction of global carbon emissions will greatly assist us in the effective deployment of CCS technology at our Arckaringa Project, a key aspect of our work during the final stage of the Bankable Feasibility Study to minimise the environmental impact of the planned facility.
"The Global CCS Institute recognises the economic significance of developments such as the Arckaringa Project and is committed to building confidence in the technologies involved to ensure that fossil fuels can continue to contribute to our energy demands in a greener future. We look forward to working actively alongside leading figures in the field and will undoubtedly benefit from sharing knowledge and expertise with other members."
About the Global CCS Institute
The Global Carbon Capture and Storage Institute was created in September 2008 and launched internationally in July 2009 by the Prime Minister of Australia, Kevin Rudd, at an event jointly hosted by the President of the United States, Barack Obama and Italy's Prime Minister, Silvio Berlusconi in L'Aquila, Italy. The launch followed a meeting of the Major Economies Forum on Energy and Climate.
The Global CCS Institute is an international initiative, led by Australia, to speed up the development of CCS technology, and reduce CO2 emissions. Since its creation, 131 entities have become Foundation Members, including over 100 major companies and organisations.
The Global CCS Institute's international advisory panel will be chaired by the former President of the World Bank, Mr James Wolfensohn. Other panel members include Lord Nicholas Stern from the UK, former Executive Director of the International Energy Agency, Mr Claude Mandil and the Executive Director of the Indian Energy and Resources Institute, Dr Leena Srivastava.
Further information is available at www.globalccsinstitute.com.
**ENDS**
For further information visit www.altonaenergy.com or please contact:
|
Christopher Lambert |
Altona Chairman |
Tel: +44 (0) 207 024 8391 |
|
Christopher Schrape |
Altona Managing Director |
Tel: +44 (0) 207 024 8391 |
|
Samantha Harrison |
Ambrian Partners Limited |
Tel: +44 (0) 207 634 4705 |
|
Chris Welsh |
St Brides Media & Finance Ltd |
Tel: +44 (0) 207 236 1177 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: +44 (0) 207 236 1177 |
Notes to Editors:
About Altona
Altona Energy Plc is an Australian based energy company that was admitted to trading on AIM in March 2005. Its primary focus to date has been the completion of a bankable feasibility study for its wholly owned Arckaringa Project for an integrated 10 million barrel per year Coal to Liquid ('CTL') plant with a 560 MW co-generation power facility.
The Company holds, through its wholly owned subsidiary Arckaringa Energy Pty Ltd, a 100% interest in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. These include three coal deposits, Westfield (EL3360), Wintinna (EL3361) and Murloocoppie (EL3362). All three lie close to the Adelaide to Darwin railway and the Stuart Highway. Containing more than 7.5 billion tonnes of coal (based on non-JORC standards), these coal deposits are effectively one of the world's largest undeveloped energy banks, capable of conversion into clean liquid fuels, low cost power and high value industrial feedstocks.
About Coal-to-Liquids (also see www.altonaenergy.com)
CTL is a proven technology which converts coal into more environmentally clean and manageable energy sources including gas and synthetic fuels. The process involves two major stages, gasification to produce synthetic gas ("Syngas") rich in hydrogen and carbon, and a liquefication stage where the Syngas is reacted over a catalyst to produce high quality, ultraclean synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated combined cycle units produce negligible sulphur oxides, significantly less nitrogen oxides and 10-20% less CO2 per unit of power generated than a conventional coal fired plant, whilst carbon capture and storage offers the potential to reduce the overall greenhouse gas emissions from CTL to below the "well to wheel" level of fuels derived from crude oil.
The technology is best demonstrated in South Africa, where currently 30% of the country's gasoline and diesel fuel needs are met through CTL plants.
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