Carbon Credits (Carbon Farming Initiative—Carbon Capture and Storage) Methodology Determination 2021 (Cth)

­­­­­

Carbon Credits (Carbon Farming Initiative—Carbon Capture and Storage) Methodology Determination 2021 I, Angus Taylor, Minister for Energy and Emissions Reduction, make the following legislative instrument.

Dated: 24 September 2021

Angus Taylor Minister for Energy and Emissions Reduction

Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Duration 5 Definitions 6 References to factors and parameters from external sources Part 2—Carbon capture and storage projects 7 Carbon capture and storage projects Part 3—Project requirements 8 Operation of this Part 9 CCS project plan must accompany section 22 application 10 Requirements for a carbon capture and storage project 11 Newness 12 Crediting period 13 Using NGER methods to work out factors and parameters Part 4—Net abatement amount 14 Operation of this Part 15 Overview of gases accounted for in abatement calculations 16 Net abatement amount for a reporting period in the crediting period 17 Amount of captured greenhouse gases 18 Greenhouse gases captured 19 Amount of captured methane 20 Calculating emissions from the capture of greenhouse gases 21 Calculating processing, compression and transportation emissions 22 Calculating fugitive emissions from transportation and injection 23 Calculating storage site monitoring emissions 24 Calculating storage site fugitive emissions 25 Calculating amount of captured greenhouse gases transferred to an off-taker 26 Calculating extended accounting period net abatement Part 5—Reporting, notification and monitoring requirements Division 1—Reporting requirements 27 Operation of this Division 28 Information that must be included in an offsets report during the crediting period 29 Information that must be included in an offsets report during the extended accounting period 30 Information that must be included in each offsets report 31 Determination of certain factors and parameters Division 2—Notification requirements 32 Operation of this Division 33 Obligation to notify Regulator about changes in project's regulatory approvals 34 Obligation to notify Regulator about certain storage site fugitive emissions Division 3—Monitoring requirements 35 Operation of this Division 36 Requirement to monitor certain parameters 37 Value of certain parameters may be estimated if project proponent fails to monitor them