China Huaneng Group and Glencore sign MOU on CCUS Project

Media statement
Beijing, China

Today at the 6^th China International Conference on CO₂ Capture Utilization and Storage, China Huaneng Group Clean Energy Research Institute Co., Ltd. and Carbon Capture Transport and Storage Company of Glencore have signed a Memorandum of Understanding (MOU) for the cooperation on carbon capture utilisation and storage (CCUS) technology, commencing with the CTSCo Project in Millmerran power station in Australia.

Glencore is one of the world’s largest diversified natural resource companies and China Huaneng is one of the world’s largest energy and technology companies.

Signing the MOU today both companies committed to supporting the deployment of low emissions technologies like CCUS to reduce greenhouse emissions from the use of fossil fuels and other industrial processes.

The CTSCo Project in Queensland, Australia will use China Huaneng’s CO₂ capture technology at the Millmerran coal fired power station to capture a stream of CO₂ which will then be transported and stored permanently in a non-potable aquifer at a depth of more than two kilometres.

 “This is the first integrated international carbon dioxide capture and storage project that China has participated in. Huaneng will work with Glencore to complete a high-quality carbon capture project in Australia's Surat Basin, build a high-quality cross-industry international cooperation project, help coal-fired power generation achieve 'near zero emissions', and enhance its international influence,” said Dr Li Weidong, Chairman of China Huaneng Group Clean Energy Research Institute Co., Ltd.

Glencore CEO, Ivan Glasenberg, welcomed the ongoing collaboration with China Huaneng.  “We are very pleased to strengthen our collaboration with China Huaneng on the CTSCo Project.  This project is vitally important because it can scale up to support the reduction of Scope 3 emissions from the use of fossil fuels across a broad range of industrial sectors.”

The CTSCo Project is Australia’s most advanced onshore CCUS project and will demonstrate CCUS at an industrial scale.  Key funding and project participants include Glencore, China Huaneng, Low Emission Technology Australia (LETA), Australian National Low Emissions Coal Research and Development (ANLECR&D) and the Australian Government.

For further information, please contact:

Investors

Martin Fewings
t: +41 41 709 2880
m: +41 79 737 5642
e: Martin Fewings

Media

Charles Watenphul
t: +41 41 709 2462
m: +41 79 904 3320
e: Charles Watenphul

Australia

Francis De Rosa
m: +61 417 074 751
e: Francis De Rosa

Cass McCarthy
m: +61 0439 178 151
e: Cass McCarthy

Glencore LEI: 2138002658CPO9NBH955

Notes for editors

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative. Our ambition is to be a net zero total emissions company by 2050. For more information, visit Glencore's website.