{"id":88118,"date":"2024-11-20T00:00:00","date_gmt":"2024-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/20\/santos-sets-target-for-14-mn-tons-of-carbon-storage\/"},"modified":"2024-11-20T00:00:00","modified_gmt":"2024-11-20T00:00:00","slug":"santos-sets-target-for-14-mn-tons-of-carbon-storage","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/20\/santos-sets-target-for-14-mn-tons-of-carbon-storage\/","title":{"rendered":"Santos sets target for 14 mn tons of carbon storage"},"content":{"rendered":"

Australia\u2019s Santos aims to store 14 mn tons of carbon by 2040:<\/strong> Australian oil and gas company Santos<\/a> set a target to establish a commercial carbon storage business, aiming to store 14 mn tons of third-party CO2 annually by 2040, according to a statement<\/a>. This goal represents 50% of Santos\u2019 2023 Scope 3 emissions \u2014 those generated by consumption of products. The new business will cater to third parties, including major Asian polluters, to meet the growing demand for CCS technology. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REMEMBER- Santos has partnered with regional players: <\/strong>The UAE\u2019s Abu Dhabi National Oil Company (Adnoc) inked an agreement<\/a> with Santos to establish a joint carbon management program in the Asia-Pacific region last year. <\/p>\n

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Spain\u2019s <\/strong>Endesa <\/strong>to <\/strong>shift <\/strong>focus to grids:<\/strong> Spanish power utility Endesa will invest EUR 9.6 bn over the next three years, an 8% increase from its previous plan, Reuters<\/a> reported. The investment is the highest since 2014 and will allocate EUR 4 bn for grid projects, a 45% increase from the previous plan. While reducing its investment in solar generation, Endesa will continue to focus on hydro and wind power, including a recent EUR 1 bn acquisition of Acciona's hydro assets.<\/p>\n

The company may have regional investors soon:<\/strong> UAE renewable giant Masdar is on its way to acquire a c. 50% stake<\/a> in Spanish power firm Endesa\u2019s solar power installations subsidiary EPGE Solar for AED 3.3 bn (c. EUR 818 mn), according to announcements made in July. The two also signed an MoU to explore an alliance that would develop renewable energy projects in Spain.<\/p>\n","protected":false},"excerpt":{"rendered":"

This goal represents 50% of Santos\u2019 2023 Scope 3 emissions<\/p>\n","protected":false},"author":1,"featured_media":88119,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,255,68,11,188,88],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-carbon-offsetting","tag-carbon-storage","tag-enterpriseclimate","tag-green-infrastructure","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"3fb6db15-660d-408e-9f1b-14a1be93762a","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1379.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Santos sets target for 14 mn tons of carbon storage","related_issue":[88104],"teaser":"This goal represents 50% of Santos\u2019 2023 Scope 3 emissions","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.883ee6a3-c728-48c1-81ff-b23c05b9b912.mp3"},"yoast_head":"\nSantos sets target for 14 mn tons of carbon storage - 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