Submarine Carbon Storage Facilities

SK earthon, a South Korean oil exploration and production (E&P) firm, has partnered with Australia’s InCapture to establish a submarine carbon storage facility to expand into sustainable energy. With "a 20% stake, SK earthon joins InCapture, which holds 75%, and CarbonCQ, a CCS consulting firm, holding the remaining 5%." The initiative explores "the G-15-AP site off Australia’s northwest coast as a potential storage solution for industrial carbon emissions." Over six years, the companies will conduct detailed evaluations to assess the site’s suitability for secure, long-term carbon storage. This move marks SK earthon’s entry into carbon capture and storage (CCS), supporting its transition to more sustainable energy solutions alongside its global oil development portfolio. As a fully owned subsidiary of SK Innovation, part of the SK Group, SK earthon aligns with the conglomerate’s broader commitment to environmental responsibility. This project also represents a strategic partnership with Australian firms and government bodies, addressing storage limitations in South Korea while supporting carbon management efforts on a global scale​.

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