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
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation