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Australia opens its first geosequestration plant on Wednesday to bury carbon dioxide underground and curb the nation's greenhouse gas emissions.

The project's chief executive, Peter Cook, said the plant in the southern state of Victoria is the first in the southern hemisphere and one of only a few in the world.

"The project has a very important role in demonstrating the technical and environmental feasibility of geosequestration to Australia and the world and preparing the way for its widespread application," Cook said in a statement.

The CO2CRC Otways Project will capture and compress 110,231 U.S. tons of carbon dioxide and then inject it 6,500 feet underground into a depleted natural gas reservoir.

The research and demonstration project has been developed with federal and state government support.

Geosequestration is an experimental low-emission technology that has the potential to significantly reduce greenhouse gas emissions from the burning of fossil fuels such as oil, gas and coal.

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