Tag: carbon capture and storage

In the context of soaring global energy demand, demographic pressures, fossil fuel supply constraints and environmental degradation, Shell has come out in favour of a 'new coalition of interests' in support of less energy-intensive development. 

Discussions between EU policymakers and energy sector stakeholders reveal sharp differences about how, and by whom, expensive CO2 capture and other 'green' technologies should be financed.

Improved clarity regarding state aid rules and inclusion into the EU's carbon-trading scheme were among the features of new proposals on carbon capture and storage (CCS) put forward by the Commission in its climate and energy package last week. But doubts remain as to the effectiveness of the expensive technology in reducing the bloc's CO2 emissions. 

Firms' reduction commitments that give carbon a value will be 'critical' in any post-2012 climate change agreement in order to create a framework where innovation for climate change technologies flourishes, the authors of a December CEPS paper suggest. 

Industrial greenhouse gases prevented from entering the atmosphere through the use of so-called carbon capture and storage (CCS) technology are to be credited as not emitted under the EU emissions trading scheme, according to Commission plans to be put forward next year.

In an interview with EurActiv, Shell Vice-President for CO2 Bill Spence says carbon capture and storage (CCS) technology will be fundamental in making fossil fuels environmentally acceptable as global demand for oil, coal and gas is set to continue surging in the coming decades.

Renewable energies alone will not be sufficient to deliver the ambitious CO2 reduction targets agreed by EU leaders for 2020, warned a top Commission official speaking to EurActiv. Nuclear power and 'clean' fossil fuels using carbon sequestration and storage will be needed if Europe is to make up for the shortfall, said Matthias Ruete, Director General of the Commission's Transport and Energy directorate.

Over two-thirds of respondents to the Commission's public consultation on an EU Strategic Energy Technology Plan are sceptical about the likely contribution of so-called clean fossil fuels, notably carbon storage, to the fight against climate change.

CO2 capture and geological storage technologies are supported as part of overall efforts to achieve carbon-neutral electricity-generation by 2050 but only "once proven and commercially viable", according to industry association Eurelectric.

Virgin founder Richard Branson, backed by US Democrat Al Gore, is offering more than 19 million euro ($25 million) for solutions to global warming.