This diagram shows how indigenous gas supply can be exploited to support the transition to a low carbon economy:
The key is to develop solutions which minimise the cost of Carbon Capture Usage & Storage. This is achieved by locating the offshore power generation and hydrogen production plants, adjacent to the CO2 storage reservoir. ‘Low carbon electricity’ is exported using the existing (sporadically and under-utilised) power cables constructed to connect the EIS and SNS offshore wind farms. Further, the gas and hydrogen can be exported through existing pipelines or the construction of infill pipelines.
Lir Resources has access to a foundation technology patent which enables power generation plant and hydrogen production plant to be located offshore without significant increases in both CAPEX and OPEX.
