CCS Industry Responds Strongly to Global Support Program

ABU DHABI, United Arab Emirates, January 19 - In an address to delegates attending the World Future Energy Summit in
Abu Dhabi today, the Global Carbon Capture and Storage (CCS) Institute's CEO
Nick Otter announced that it had received well over 50 applications for its
Project Funding and Support Program. The applications received represent more
than AUD $500 million in assistance sought from CCS project proponents across
the world.

The head of the initiative to accelerate the worldwide commercial
deployment of at-scale CCS, told a gathering of world leaders, policy makers,
experts and investors from over 100 countries that the strong response to its
Project Funding and Support Program demonstrated that support is needed for
CCS projects around the world, and that it is needed now.

"Today's CCS projects are tackling real barriers capable of preventing
their commercial deployment. Our approach to address these barriers through
providing expertise and funding has the potential to significantly contribute
to the large-scale deployment of CCS, and in doing so provide real solutions
for today's climate and energy challenges," said Nick Otter.

More than 30 per cent of applications received by the Global CCS
Institute were from projects based in Europe, while over 20 per cent of
project proponents were located in North America. The remaining applications
are spread across Asia, Australia and New Zealand, the Middle East and North
Africa.

Applicants to the program also represent a broad range of industries
including power suppliers, oil and gas companies, engineering firms,
technology companies, geological surveyors, and other heavy industries.

Funding has been sought for all stages of the CO2 value chain, including
the application of innovative capture solutions, the characterisation of
suitable storage sites, and the development of a multi-user pipeline network.

"The hurdles facing CCS projects are spread across industries,
geographies and technologies, and this is reflected in the diversity of
funding applications we have received. By providing support to a broad range
of priority projects the Global CCS Institute will seek to ensure that the
different hurdles are quickly addressed," said Nick Otter.

The Global CCS Institute's Project Funding and Support Program will
provide approximately AUD $50 million annually for direct support of
large-scale CCS projects around the world, assisting them to move through the
critical stages of project development, towards operation. The program is
focused on removing barriers facing specific projects, as well as assisting
with delivering regulatory frameworks that enable quicker deployment, and
linking potential project partners and investors.

While the Global CCS Institute will receive applications for its Project
Funding and Support Program on an ongoing basis, the initial successful
applicants are expected to be announced in May of this year.

    For further information please contact:
    Chandran Vigneswaran
    Communications & Media
    Global CCS Institute
    P +61(0)2-6175-5331
    M +61(0)414-762-390
    E chandran.vigneswaran@globalccsinstitute.com

Notes to editors

About the Global CCS Institute:

* The Global CCS Institute is an initiative to accelerate the worldwide
commercial deployment of at-scale CCS, whereby CO2 is captured, transported
and then injected deep underground for secure, long-term storage.

* The Global CCS Institute has unprecedented international support, with
more than 30 national governments and over 130 leading corporations,
non-government bodies and research organisations signed on as Members or
Collaborating Participants.

* Announced by the Australian Government in September 2008, the Global
CCS Institute was formally launched in April 2009 and became an independent
legal entity in July 2009.

* Recognising the important contribution CCS can make to tackling our
energy security challenges, the Australian Government has currently committed
AUD $100 million annual funding to ensure the ongoing success of the
organisation.

Chandran Vigneswaran, Communications & Media of Global CCS Institute, +61(0)2-6175-5331, mobile, +61(0)414-762-390, chandran.vigneswaran at globalccsinstitute.com