GCCSI: TCM will drive global CCS innovation
In its annual report, Global CCS Institute, highlights two demonstration projects vital in the quest of reducing the cost of technology: TCM in Norway and Quest in Canada.
“In Norway and Canada, two projects highlight the benefits of public and private sector support in advancing cost-effective technology. The opening of the US$1 billion Technology Centre Mongstad (TCM) in Norway, an industrial-scale test centre for carbon capture, marks an important milestone in research, development and demonstration (RD&D) efforts and should demonstrate the potential for CCS costs to be significantly reduced over time,” reports GCCSI.
“In Canada, Shell’s Quest project announced it will capture and store more than one million tonnes of CO2 per year produced at the Athabasca Oil Sands Project. The knowledge generated by both of these projects will drive innovation around the world,” according to the GCCSI report.
The annual report, with a picture from TCM on its front page, underlines that action is needed now to ensure Carbon Capture and storage (CCS) can play a vital role in tackling climate change.
CCS is a vital component of a portfolio of low-carbon technologies, as it is able to reduce carbon dioxide (CO2) emissions substantially from both the energy sector and other industries. The Global CCS Institute’s Global Status of CCS: 2012 report identifies the status of CCS, the developments that have occurred in the past year, and the challenges that must be addressed in order for climate change to be managed effectively and efficiently.
GCCSI writes that CCS is already contributing, but progress must be accelerated. “To maintain the path to the 2°C target, the number of operational projects must increase to around 130 by 2020, from the 16 currently in operation or under construction. Such an outcome looks very unlikely as only 51 of the 59 remaining projects captured in the Global CCS Institute’s annual project survey plan to be operational by 2020, and inevitably some of these will not proceed. This situation should send a strong message to governments on the adverse impact of delays to climate change legislation. The lack of progress continues to undermine private sector investment in CCS activities, which then impedes technology development. Since CCS is the only technology available for complete decarbonisation of industrial sectors such as iron, steel and cement manufacture, the risk of not being able to limit temperature rises to just 2°C becomes even greater.”
To read the whole report, click here.