Tag: carbon storage

The European Commission has proposed awarding 102 million euros in funding to the Porthos project. The Porthos project regards the capture and storage of CO2 in the North Sea floor.

A sharp increase in the deployment of carbon capture, utilization and storage (CCUS) technology is needed worldwide if countries want to meet net-zero emissions targets and slow climate change in line with Paris Agreement, IEA said on Thursday.

Following two long and costly decades of carbon capture and storage (CCS) studies and test centers, Europe has now reached a stage where big-scale developments make financial sense and could trigger up to $35 billion in development spending until 2035, a new analysis by Norwegian consultant Rystad Energy shows.

ESA approved a Norwegian Full-Scale Carbon Capture and Storage project. The support include an up to €2.1bn in aid to meet climate goals.

Gothenburg and Sweden could be the first in the world to create a joint infrastructure for the transport of liquefied carbon dioxide extracted using CCS technology.

A consortium of Belgian and Dutch companies including the LNG player Fluxys is taking the first step towards CO2 capture and storage, to reduce CO2 emissions in North Sea Port, the Belgian-Dutch area covering the port of Ghent in Belgium and the ports of Terneuzen and Vlissingen in the Netherlands.

The oil major players, Equinor, Shell and Total recently shake their hands and agreed to invest in Norway's first exploitation licence for CO₂ storage, called as "Northern Lights project".

The European Union is prepared in principle to provide a subsidy for the Porthos project on storage of CO2 from industry in Antwerp, Ghent, Zeeland and Rotterdam beneath the North Sea. This is according to the list of energy projects that the European Parliament approved on Wednesday.

Lloyd's Register John McCurry highlights the importance of developing carbon capture and storage, after withdrawal of UK funding in 2015, and its positive impact on the environment. Carbon capture and storage (CCS) divides the CO2 produced by industry, compresses it for transportation, and permanently stores it in rock formations. Also, it stops carbon emissions from entering the atmosphere and plays a key role in climate change. 

On 20 January, the Italian energy company Eni along with the international oil company ADNOC, shake their hands and inked a strategic framework agreement. Through their collaboration both companies will further explore new opportunities in carbon capture utilization and storage (CCUS).