The company conducted a study from Minviro which found its TECH (Townsville Energy Chemicals Hub) would have 36 per cent lower CO2 emissions than the industry average.
But it could reduce that further if it manages to find a way to use methane that was usually vented or flared from Queensland’s coal mines which would also provide the project with CO2 credits.
“QPM has been assessing a number of gas supply options for the project, some of which include utilising gas which is either flared or vented ahead of mining at existing coal operations in Queensland,” the company said in a statement to the ASX.
“Coal mines de-gas areas for safety ahead of mining (and the) gas largely consists of methane with is 34 times worse for the atmosphere in terms of global warming than CO2.”
QPM said it could use this wasted gas and reap the benefits of CO2 credits.
“The level of gas consumption for the TECH project is significant and as a result there is potential for the TECH project to be a net-negative CO2 emitter depending on the proportion of flared and vented gas and the credits which can be applied wto QPM under international standards for lifecycle assessment.
QPM chief executive Stephen Grocott said he was pleased that the project had further opportunities for improvement.
“The exceptional greenhouse gas lifecycle analysis data makes the TECH project even more attractive to investors who supply yhr European, north Asian and north American battery supply market,” Grocott said.
QPM has not revealed details of how the gas would be captured from mines and delivered to the network.
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