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G8 making progress on carbon capture and storage

“Significant progress” has been made towards the commercialisation of carbon capture and storage (CCS), according to a new report being presented to G8 leaders at the June Summit in Canada.

The report by the International Energy Agency (IEA), the Carbon Sequestration Leadership Forum (CSLF) and the Global CCS Institute says that the goal set two years ago in Hokkaido, Japan of launching 20 large-scale CCS demonstration projects by 2010 will require industry and governments to work together and accelerate their efforts.

Over the last two years, governments around the world have invested over $26 billion in large-scale CCS projects, with between 19 and 43 planned to launch by 2020.

Currently, 80 large scale projects are at various stages of development around the world, with five already operational and one is starting construction.

“This level of commitment is very promising, as government support is vital to helping projects under development overcome the final hurdles,” says IEA executive director Nobuo Tanaka.

The IEA commended the US, Canada, Australia and the EU, particularly the UK, for their efforts.

“The growing number of projects under development around the world demonstrates that increased action is being taken,” says Nick Otter, CEO of the Global CCS Institute.

But governments need to intensify these efforts to push forward projects under development to realise the G8 goal of around 100 CCS projects around the world by 2020 with half in developing nations.

“Continued political leadership is essential at both national and international levels,” says Tanaka. “Reaching the G8 goal of broad deployment of CCS by 2020 is achievable, but will be challenging.”

The IEA will no doubt be heartened by the recent announcement of US funding for three large-scale industrial demonstration projects in Texas, Illinois and Louisiana.

For further information:
www.iea.org/
www.cslforum.org/
www.globalccsinstitute.com/

16 June 2010

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