Kadri Simson, energy commissioner for the EU
EU to launch €3bn CCS funding round
Money will come from the Innovation Fund, which has already provided €1.5bn in support to 11 carbon-capture projects
The European Commission will launch a new €3bn ($2.95bn) funding round aimed at incentivising the development of more carbon capture, utilisation and storage (CCUS) projects later this year. The funding will come from the EU’s Innovation Fund, which has already provided €1.5bn in support to 11 CCUS projects. And the Commission will next year publish an official strategy for the sector focused on three areas: funding, infrastructure and regulation. The strategy will quantify the potential role CCS and CCUS can play in decarbonisation, clarify the rules governing infrastructure, and find ways to better involve industry and other stakeholders. “The potential impact of these technologies is too
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
