64Area to which lease applies

64 Area to which lease applies

(1) The Minister may grant a retention lease in respect of all or part of the area for which the lease is sought.

(2) In granting a retention lease, the Minister must—

(a) ensure that the lease area is the minimum area necessary—

(i) to cover the maximum extent of the underground geological storage formation identified as being likely to be geologically suitable for the injection and permanent storage of a greenhouse gas substance; and

(ii) to enable the future use of any other underground geological storage formation for the injection and permanent storage of a greenhouse gas substance; and

(b) allow for the potential migration path of an injected greenhouse gas substance to ensure that the injected greenhouse gas substance is likely to be contained in the lease area or any combined area of a development agreement.

(3) Nothing in this section authorises the Minister to include in the lease area any area that was not within the area to which the lease holder's exploration permit applied.