The Petroleum, Geothermal Energy and Greenhouse Gas Storage Act 1967 (PGEGGSA) and the Petroleum and Greenhouse Gas Storage (Submerged Lands) Act 1982 (PGGS(SL)A) state, by declaration of the Minister for mines and petroleum (the Minister), that an identified GHG storage formation is a prerequisite to be able to apply for a GHG retention lease or a GHG injection licence.