Ministers back carbon capture

9 June 2017

The International Energy Agency (IEA) says it will carry out an analysis of current carbon capture, utilisation and storage (CCUS) projects around the world in order to find out how they can be successfully replicated.

The Paris-based agency says that CCUS technology is vital for reducing carbon dioxide emissions and that it would examine what factors have helped CCUS projects to attract investment.

“Our analysis consistently shows that CCUS is a critical part of a complete clean energy technology portfolio that provides a sustainable path for mitigating greenhouse gas emissions while ensuring energy security,” said Dr Fatih Birol, IEA Executive Director. “Investment has flowed to CCUS projects where there is a confluence of factors which constitute a viable business case.

“We need to find more such opportunities, where a commercial case for CCS can be built with reasonably modest, well targeted public interventions.”

The IEA recently brought together energy ministers at the latest Clean Energy Ministerial (CEM) to discuss ways of boosting collaboration in the field. The meeting centred on the vital role of CCUS in reducing carbon dioxide emissions while ensuring energy security, and involved ministers from 19 countries, it said.

Participants at the meeting, held at the eighth CEM in Beijing, China, acknowledged the importance of revenue streams, such as from CO2 utilisation, available transport and storage options, and political leadership in securing investment in CCUS projects.

“I don’t believe you can have a real conversation about clean energy without including CCUS. The United States understands the importance of this clean technology and its vital role in the future of energy production,” said US Department of Energy Secretary Rick Perry. “We have already seen the success of projects like Petra Nova in Texas, which is the world’s largest post-combustion carbon-capture system. Our experience with CCUS proves that you can do the right thing for the environment and the economy too.”

Jim Carr, Canada’s Minister of Natural Resources said: “Carbon capture, use and storage holds enormous potential to enable economic growth and create jobs, while ensuring the environment is protected.

“Canada hopes to continue working with domestic and international partners – including through the Clean Energy Ministerial and Mission Innovation – to help us all address the technical and policy challenges around wide scale implementation of this important technology.”



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