Defining Opportunity – How OGCI Is Trying to Enable A Commercial CCUS Industry
Collaborating with a wide range of stakeholders, and supported by ten major oil and gas companies, the Oil and Gas Climate Initiative (OGCI) aims to be a catalyst for a commercial CCUS industry...
The Nature Conservancy and XL Catlin Collaborate to Bring Blue Carbon Credits to Market
TNC and XL Catlin announced today a project to develop "Blue Carbon Resilience Credits". These will, for the first time, value the combined carbon sequestration and resilience benefits provided by coastal wetland ecosystems. Support provided by XL Catlin will allow TNC to explore the development of a system of credits assigning a market value to the resilience services provided by these ecosystems, which are historically undervalued. The hope behind this initiative is that, for the first time, insurance firms and other businesses will be able to offset their carbon footprint while simultaneously better understanding the contribution they are making to reducing coastal hazards in the world's most vulnerable coastal areas...
Oil and Power Giants Form New Carbon Capture Group
Companies including BP, Chevron and power giant Southern Company have formed a new coalition called the Energy Advance Center to work on carbon capture, storage and use...
10 Teams Advance to Final Stage of $20 Million Carbon Xprize
The notion of turning CO2 into something useful sounds wildly futuristic, but scientists are already making promising strides in the area. Launched in 2016, the Carbon XPrize is a US$20 million competition aimed at speeding things along, inviting competing teams to develop technologies that can capture and convert these emissions into products of value. Organizers have today announced the 10 finalists, who will now look to dramatically scale up their solutions and pit them against one another under real-world conditions...
Econic Technologies Raises £7m
The total amount raised is £7m with first-time investment from OGCI Climate Investments, alongside additional funds from existing shareholders: IP Group plc and Woodford Investment Management...
IEA and KAPSARC Co-Host Workshop On Decarbonisation Potential of Advanced CO2-EOR
February 1, 2018 The International Energy Agency (IEA) and the King Abdullah Petroleum Studies and Research Center (KAPSARC) co-hosted an expert workshop on the potential for advanced CO2 enhanced oil recovery (CO2-EOR) to decarbonize oil production. The workshop focused on the potential for using CO2-EOR for CO2 storage and increasing oil production, also known EOR+ or advanced CO2-EOR. Over the course of the two day meeting, over 60 participants from government, industry and academia examined the current status of CO2-EOR and EOR+, explored the economic and environmental benefits of advanced CO2-EOR and discussed the challenges facing its widespread adoption. In his introductory address, IEA Chief Economist Laszlo Varro highlighted that combining oil recovery with CO2 storage can provide energy and economic security to oil-producing countries as well as environmental benefits by reducing CO2 emissions through permanent CO2 storage. Doug Cooke, KAPSARC’s Program Director Energy Transitions and Environment, noted that advanced CO2-based oil recovery in combination with geological storage has the potential to offer a ‘win-win’ for oil producing and consuming countries by contributing to decarbonising the transport sector while ensuring the longevity of national hydrocarbon assets in oil-producing countries. However, both Mr Varro and Mr Cooke recognized that there are a number of legal, regulatory and economic challenges to realise the potential of advanced CO2-EOR combined with verifiable CO2 storage. “Establishing appropriate policy frameworks to enable investment will key to the development of EOR+,” said Mr Varro. Mr Cooke added that “the benefits of advanced CO2-EOR need to be proven if it is to become a credible part of the global response to combatting carbon emissions. International collaboration between all key stakeholders will be critical for success.” “Advanced CO2-EOR can also provide market pull for the deployment of CCS technology by supporting crucial early CCS investment in some jurisdictions” noted Juho Lipponen, IEA head of CCS, “because CCS accounts for one sixth of the required emissions reductions worldwide by 2060.” Advanced CO2-EOR is not yet a mainstream practice and will require changes in how projects are planned and operated. This in turn will require changes in the legal, regulatory and commercial framework to support its deployment. Effective public policies will be required to harness this potential. The joint workshop informed decision makers on the opportunities and challenges of advanced EOR and provided clear recommendations on how advanced EOR can play a meaningful role in national energy and emissions reductions...
IEA Holds Global Summit on Carbon Capture
The International Energy Agency held a high-level summit with energy ministers, government officials and chief executives of major energy companies to support a renewed push for investment in carbon capture, utilisation and storage...
Evaluation of Novel Hybrid Membranes for Carbon Capture
Carbon dioxide (CO2) capture remains a priority in many countries as the world seeks to address climate change. In particular, the most recent report from the Intergovernmental Panel on Climate Change shows that geological storage of carbon dioxide is required for all scenarios that can meet 430 - 550 ppm CO2 atmospheric concentrations...
COP23: CCS Industry Warns More Than 2,000 Carbon Capture Plants Needed by 2040
Global Status of CCS Report confirms 17 large scale CCS plants are now operational, but warns surge of development is urgently required The Global CCS Institute has reiterated its warning that the pace of development across the fledgling carbon capture sector needs to accelerate sharply if the world is to meet the emissions goals set out in the Paris Agreement...
BHP Partners With Leading Universities on CCS Understanding
BHP Billiton, the global mining company, has entered a a global collaboration with top international universities to accelerate a deeper understanding of CCS in a range of subsurface locations...
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