Carbon Capture and Storage – capturing the momentum

The momentum behind CCS is growing rapidly. Following the Commission’s Sustainable Carbon Cycles Communication in December 2021, which underlined the need for large scale CCS to deliver the negative emissions that the EU will increasing need to meet its GHG ambitions, Commissioner Simson noted that ‘no CCUS no net-zero’ during the last CCUS Forum in October 2022. The Commission has now committed to issuing a CCUS Strategy later this year. The CCUS Forum Vision Working Group has tabled a detailed paper with concrete suggestions for the Strategy, and the Infrastructure Group is currently finalising its report. Now the Commission’s Net-Zero Industry Act proposal has proposed an EU-binding target for ensuring the availability of 50 MT of CO2 storage in the EU by 2030, and suggested binding investment obligations on EU oil and gas producers to achieve this. This target may well increase once it applies to Norway, as the NZIA would have EEA relevance.

The debate will address this momentum, look at what should be in the Commission CCUS Strategy, unpick the Commission’s NZIA storage proposal, consider the investment, regulatory, and infrastructure challenges, and ask ‘what needs to be done, when, and by who?

Watch the recording:

Programme

Opening: Ilaria Conti