New Program to Accelerate CCS Deployment

CANBERRA, Australia, December 7 - The Global CCS Institute announced today a new program of support to
accelerate the deployment of carbon capture and storage projects worldwide.

Currently funded by the Australian Government, the Global CCS Institute
will provide approximately AUD $50 million annually for direct support of
large-scale CCS projects around the world to assist them move through the
critical stages of project development to operation.

Global CCS Institute CEO Nick Otter said, "Our financial resources are
focused towards those projects that promise the greatest return towards
delivering our objective of accelerating the construction and operation of
CCS projects."

"We want to engage with those projects with the greatest need, which face
real obstacles to their success, and towards which we can have an immediate
impact," he said.

A recent study released by the Global CCS Institute showed that there are
55 fully integrated, commercial-scale projects around the world, each at a
different stage of planning but all facing similar barriers to their
development. The assistance announced today will target a diverse range of
projects with support to undertake concept and pre-feasibility studies, or to
contribute to specific aspects of feasibility and Front End Engineering and
Design (FEED) studies.

The program is designed in recognition of the fact that governments
around the world have, or are considering, allocating public funding towards
CCS projects to help bridge the commercial gap. As a result, the Global CCS
Institute's funding will primarily focus 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.

The program will aim to capture relevant knowledge from projects it
supports to allow the broader industry to learn from project experiences, and
increase their prospects for success.

The support provided by the Global CCS Institute will be allocated
through engagement with projects on an ongoing basis, and may be allocated
for single or multiple years to meet the specific needs of different
projects. In order to kick start the process formal applications are being
sought by January 8, 2010.

The Global CCS Institute 'Project Funding and Support Program' details
and 'Application Guideline' are available at www.globalccsinstitute.com

    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
    - 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.

    About the Global CCS Institute:
    - 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 Global CCS Institute, +61-(0)-2-6175- 5331, Mobile, +61-(0)-414-762-390, chandran.vigneswaran at globalccsinstitute.com