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Stuart Penson
16 March 2023
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EU net-zero act prioritises CO₂ storage

Package of regulatory proposals sets 2030 storage target as EU jostles for position in global green technology race

The European Commission has prioritised the development of CO₂ storage capacity under a package of new regulatory proposals designed to help the EU compete with the US and China in the global race for investment in green technology. The proposals, set out under the Net Zero Industry Act, include a goal to develop 50mn t/yr of CO₂ injection capacity at strategic storage sites by 2030 and the creation of a single EU market for CO₂ storage services that large-scale emitters can rely on to decarbonise their operations. “In the area of CCS, the emergence of a CCS value chain in the EU is currently being hampered by a lack of CO₂ storage sites,” the Commission says. “Furthermore, sufficient CO₂ in

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Also in this section
Germany launches carbon CfD scheme
6 June 2023
Government expects to budget more than €10bn for subsidy programme in response to US IRA
ExxonMobil signs CCS deal with steelmaker Nucor
2 June 2023
Oil major sees CCS for third parties as a ‘compelling’ business as latest contract takes total portfolio to 5mn t/yr
Realistic hope should be the legacy of Cop28
Opinion
1 June 2023
The appointment of the UAE’s Sultan Ahmed al-Jaber as Cop president has drawn criticism from some quarters, but progress on the energy transition will require cooperation, not conflict
World must scale up CCUS for net zero, says IEA’s Budinis
31 May 2023
CCUS is one of the key tools for decarbonising the energy system, but governments and industry must act now to accelerate its deployment at scale

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