Accelerating a Europe-Wide CO2 Storage Market
Carbon capture and storage prevents CO2 fromĀ industry and power generation reaching theĀ atmosphere, and can also remove CO2 from theĀ atmosphere. CO2 can be captured from point sourcesĀ or from the air, then securely and permanently storedĀ in geological formations in the subsurface.
There isĀ often a mismatch within countries between the amountĀ of CO2 they need to capture and the amount they areĀ able or willing to store, so the ability to use geologicalĀ CO2 storage in other countries is essential.
An integrated EU/EEA-UK cross-borders CO2 storageĀ market can provide cost-efficient, close-at-hand andĀ rapid storage solutions for industrial emitters.
TheĀ European Commission recognises this and has put inĀ place a framework that enables member states to storeĀ their captured CO2 in other parts of the EuropeanĀ Union (EU) and the European Economic Area (EEA).
This supports countries with limited availability of CO2storage to decarbonise using CCS and enables countriesĀ with available CO2 storage to provide it as a service.
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