Carbon Storage Market under Threat in Europe

Courtesy: Spacedaily.com

European Union’s long term proposal to go with underground Carbon Dioxide storage is hovering over threatening window by the closure of two major projects at Germany & Britain. Actually the scientific plan was projected to subside the global warming gases by storing them in the underground rock formations. As fate on other projects are probably get clear picture by this year. Regulatory objections & monetary issues are considered as the key reason behind the delaying of the entire project. Apart from these reason, there is also geological threat among the public who’re raising global warming issues a long back against EU.

According to news published by NYTimes, Europe came out with this new technology to promote the growth in possible in two ways from utilizing Green house gases from fossil fuels & stores them inside the formation to use for the oil industry. Carbon dioxide gases are used to inject inside the wells to bring mobility in the underground oil-gas phase, known as EOR services. Carbon dioxide has good advantage to carry as it avoids combustion inside the well & increase mobile productivity on long run cycle. In 2009 EU agreed to cut greenhouse gas emissions at least 80 percent from 1990 levels by 2050. 2050 is projected because Germany & other countries planning to switch over to another source of energy instead of nuclear after disastrous earthquake at Japan. According to 2050 Energy Commitment, formally adopted by the European Commission last month, looks to carbon capture for 19 to 32 percent of total European Union emission cuts by 2050.

News Resource (Headline – Growing Doubts in Europe On Future of Carbon Storage)

In 2006 the government set up the Fundación Ciudad de la Energía, known as Ciuden, a research facility in the Bierzo, a mountainous coal mining region of northwestern Spain. Ciuden was to develop a technology for collecting waste carbon dioxide from the burning of local coal, cooling it to a liquid and pumping it for indefinite storage into underground caves or porous rock formations. Three years later, along with two private partners, it received a grant for 180 million euros, or $228 million, to build a pilot plant, to be followed by an industrial-scale plant for completion by 2015.To support this project, company was forced to build a 500-megawatt coal-burning power generator integrating Ciuden’s technology. In between new study released from Australia saying power plant raises the capital cost by 30 to 100 percent. (Courtesy: NY Times)

Because of massive protest from public as well as rising capital cost under internal crisis in Europe, storage projects went into the cold stage. But being in abnormal situations, these technologies are drawing enormous attentions from Norway, the United States, Australia and Canada.

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