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the energy paradigm, they can be optimised in the future. It is also worthwhile for countries to look within their borders for energy solutions. Australia, my home base, illustrates this point. Australia is rich in coal and it is our number one export earner but we rely heavily on imported oil. It makes sense to look again at resources, like stranded coal, that in the past were dismissed. In the United States, where Linc Energy has expanded significantly in the past 18 months, revisiting previously worked resources such as oil wells has a new significance with the development of EOR. This process involves injecting carbon dioxide into oil reservoirs to increase oil flow from depleted wells, in an economical manner. In the US, a total of about 100 EOR commercial projects are in operation, " UCG and GTL are not in the distant or even medium-term future, they are providing solutions now"recovering approximately 240,000 barrels of oil per day.5 In some cases, EOR can extract as much oil from the reservoir as was initially retrieved during the oil fields' primary production. EOR also works to sequester unwanted carbon dioxide from other industrial processes - a huge benefit in a carbon constrained world. "Studies reveal that CO2-EOR has a substantial immediate to long-term role to play in both increasing domestic oil production in a responsible way and in sequestering CO2 underground. CO2-EOR can add value by maximising oil recovery while at the same time offering a bridge to a reduced carbon emissions future."6 As UCG makes us reconsider so-called stranded coal as viable and valuable, so EOR does the same for stranded oil. This is exciting stuff. So many factors are driving countries and individuals alike to look for better ways of providing energy and meeting the '3Es.' Linc Energy has shown that UCG to GTL in conjunction with EOR make a powerful combination and it is why I believe my company can really make a difference. nAbout the AuthorPeter Bond is Chief Executive Officer and Managing Director of Linc Energy Ltd. He began his career in mining more than 30 years ago, after training as a metallurgist at BHP. By the age of 23, his entrepreneurial spirit was evident as he personally raked and hand cleaned more than 1,000 tons of coal, which he sold to a brick company for a substantial profit. After years in the coal industry, Mr Bond went on to own his own coal company. Since then he has gone on to take underperforming companies and transform them into valuable assets, in Australia and overseas. In just three years, from late 2004, Mr Bond transformed Linc Energy from a small start-up into a successful IPO on the Australian Securities Exchange (ASX.) It has gone on to become a AU$2 billion company and is among the ASX's top 200. Mr Bond is also a member of the BRW Australian Rich List and is highly regarded for his philanthropy. References 1 World Energy Outlook 2011, International Energy Agency, International Year of Sustainable Energy for All2www.sustainableenergyforall.org,3 World Energy Outlook 2011, IEA, p. 414 Ibid., p. 505 Advanced Resources International Inc. based on Oil and Gas Journal 2010 and othersources accessed from http://powerplantccs.com6 Enhanced Oil Recovery Projects with CO2. Challenges, standards and more.http://powerplantccs.comclean coal technology 067

Progress Towards Demonstration of Carbon Capture and StorageBrad Page, Chief Executive Officer, Global CCS Institute At their Hokkaido Toyako Summit in 2008, G8 Leaders expressed strong support for the launch of 20 large-scale carbon capture and storage (CCS) demonstration projects globally by 2010, taking into account various national circumstances, and with a view to beginning broad deployment of CCS by 2020. At the L'Aquila Summit in 2009, Leaders reaffirmed this commitment, and agreed to a range of measures intended to help reach this goal. In the few years since these commitments, national circumstances in many countries have changed considerably. Global economic conditions and the financial situation of many nations have deteriorated. This has contributed to slower progress at the international level on actions to combat climate change than had been expected in 2008 and 2009. But the need for such actions is even more urgent now than it was then. In Durban in late 2011, the Conference of the Parties to the United Nations Framework Convention on Climate Change noted "with grave concern" the significant gap between the aggregate effect of Parties' mitigation pledges in terms of global annual emissions of greenhouse gases by 2020 and aggregate emission pathways consistent with having a likely chance of holding the increase in global average temperature below 2 °C or 1.5 °C above pre-industrial levels.It is well established that CCS is an essential component of the portfolio of technologies to reduce global emissions. Together with renewable and other complementary energy technologies, as well as greater energy efficiency, it can contribute significantly to the reduction and stabilisation of Pictured: (below) Graph showing the 'Number of large-scale integrated projects by Stage' (facing page) Graph showing the 'Number of large-scale integrated projects by region'the concentration of CO2 in the atmosphere. But given the changed circumstances since 2009, this is a timely point to examine the progress towards reaching the 2008 G8 goals, and what more needs to be done to achieve broad deployment of CCS.The Global CCS Institute tracks progress towards the G8 goals by continually monitoring the status of large-scale integrated CCS projects (LSIPs). As of March 2012, the Institute has identified 75 LSIPs around the world, including 8 that are currently operating and a further 7 in construction (figure 1). These 15 projects have a total confirmed carbon dioxide (CO2) capture capacity of 35.4 million tons a year. A further 59 LSIPs are in the planning stages of development, and a significant number of these expect to be in a position to make a final investment decision in the next year or two.5 10 15 20 25 30 Identify Evaluate Execute Operate Number of projects 2012 (March)20102009DeneFigure 1: Number of large-scale integrated CCS projects by stage068 clean coal technology