Editor’s Note: Given that DOE expects CCS to raise the wholesale price of electricity by 70-80%, regulatory authorities may want to consult with consumers about what winning the “race” would mean to their economic future– or lack thereof.
From: BusinessGreen Plus
Succession of cancelled projects see EU fall behind North America and China in development of crucial carbon abatement technology
By Will Nichols
The carbon capture and storage (CCS) industry in Europe has “stalled”, with North America and China moving ahead in the race to develop a technology seen as vital to global emission reduction efforts.
According to new research by the Global CCS Institute (GCCSI) there are currently 21 large-scale projects in operation or construction worldwide – a 50 per cent increase since 2011 – which together are expected to capture around 40 million tonnes of CO2 per year.
Moreover, a further 39 projects are in various stages of development and planning, including the White Rose and Peterhead projects in the UK, bringing the total number of completed and prospective developments to 60. But while the GCCSI insists the industry has made “significant progress” globally, the body’s previous report in October identified 65 projects that were either operational or in development, which in turn showed a fall from the 75 projects recorded in 2012.
The decline in the number of developments in the pipeline is “almost exclusively” due to projects being cancelled or put on hold in continental Europe, the report says, after plans for projects in Spain, Italy, Romania, and at Mongstad in Norway were dropped.
The number of large-scale CCS projects in continental Europe has “fallen sharply” from 14 in 2011 to just five as of this month. Two of these are already operating in the gas processing industry, leaving three in the planning stage.