Shell is opposed to the EU targets
Letter from London: Shell blasts EU carbon storage targets
Binding CO₂ injection targets for oil and gas firms are ill-defined and very unrealistic, oil major tells London CCS summit
Shell has launched a scathing attack on the EU’s move to impose binding CO₂ storage injection targets on oil and gas firms, calling the regulation in its current form “very unrealistic”. The European Commission has set the targets for 44 European oil and gas companies in a bid to reach its overall goal of 50mt/yr by 2030, as set out under the Net Zero Industry Act (NZIA). Individual company targets are pro rata, based on past oil and gas production. “What we find is that the legislation is retroactive and ill-defined,” said Kelly Ripley, general manager, commercial carbon capture and sequestration for Shell. “Shell is very supportive and would look forward to being able to store CO₂, but we
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