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European Parliament allocates €18bn for CCS demonstration plants

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The European Parliament’s Report on a proposal for a Regulation establishing a programme to aid economic recovery by granting Community financial assistance to projects in the field of energy was adopted in Plenary earlier this month. Eugenijus Maldekis’ (Union for Europe of the Nations Group, Lithuania) Report was adopted by 526 votes in favour to 64 against with 14 abstentions. The European Parliament voted in line with the informal agreement made previously with the Council. Under this agreement, €1.05bn will be allocated for projects for carbon capture and storage (CCS). In addition, Norway recently announced plans to contribute €140m to help fund CCS projects in the European Union. This money will come from the country’s pending contribution to the European Economic Area. Norway said that it viewed CCS as a means of contributing to the fight against climate change while not affecting its position as a leading oil and gas exporter.

The European Parliament, however, has called for EU money not allocated before 1 September 2010 to be redirected to energy efficiency and renewable energy projects, arguing that projects such as CCS are unlikely to have developed sufficiently to absorb all the investment by that time. The Greens criticised the compromise package, arguing that the €1bn for CCS pilot projects, which will not be operational for three years, will have limited benefits on the wider economy.

In the cement industry, ECRA, the European Cement Research Academy, is working on a CCS project. More information