• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 10 hours Its going to be an oil bloodbath
  • 7 mins US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 4 hours Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 4 hours Marine based energy generation
  • 6 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 17 hours The Most Annoying Person You Have Encountered During Lockdown
  • 14 hours Trafigura CEO Weir says, "We will see 30% to 35% drop in demand". That amounts to 35mm bbls/day glut ! OPEC+ 10 mm cut won't fix it. It's a DEMAND problem.
  • 8 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 18 hours Cpt Lauren Dowsett
  • 3 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 16 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 19 hours Washington doctor removed from his post, over covid
  • 20 hours Which producers will shut in first?

Breaking News:

IEA: OPEC Can’t Save The Oil Market

Alt Text

Russia Looks To Double Coal Exports To China

Besides its high profile gas…

Alt Text

The $22 Trillion Market Keeping Coal Afloat

Despite coal’s collapse in North…

Alt Text

Cloud Peak On Brink Of Collapse After Bad Coal Bet

The U.S. power sector’s pivot…

Darrell Delamaide

Darrell Delamaide

Darrell Delamaide is a writer, editor and journalist with more than 30 years' experience. He is the author of three books and has written for…

More Info

Premium Content

Governments, Industry Must Accelerate Pace to Meet G8 Goals on CCS, IEA Says

Governments and industry will have to step up the pace if they want to meet the declared goal of large-scale deployment of carbon capture and sequestration for coal-fired power plants by 2020, the International Energy Agency said in a new report.

Governments have made financial commitments of some $26 billion that will enable them to launch between 19 and 43 large-scale demonstration projects by 2020. But it will be a challenge to meet the initial goal of launching 20 such projects by the end of this year, the IEA said in a report to be presented to G8 leaders at their summit later this month.

The goals were set at the G8 summit in 2008.  “The growing number of projects under development around the world demonstrates that increased action is being taken,” said Nick Otter, chief executive officer of the Global CCS Institute, a co-author of the report. “Rapid progress towards operation of those projects is now required if CCS is to be on-track for broad deployment by 2020.”

CCS – designed to reduce carbon emissions from coal by capturing the carbon dioxide and burying it – is meant to complement renewable energy technologies in the fight against global warming.

The Global CCS Institute recently identified 80 large-scale integrated CCS projects at various stages of development around the world. Only five of these are in operation at present, and one new project has been launched and is proceeding to construction. Notable efforts can be found in the United States, Canada, Australia and the European Union, particularly the United Kingdom, the report said. Projects are also under development in China and the Middle East.

The report noted that according to the October 2009 IEA CCS Technology Roadmap, about a hundred CCS projects will be required globally by 2020, roughly half of them in developing countries, to achieve emission reduction goals.

“The report stresses that continued political leadership is essential at both national and international levels,” IEA Executive Director Nobuo Tanaka said in a statement. “Reaching the G8 goal of broad deployment of CCS by 2020 is achievable, but will be challenging.”

By. Darrell Delamaide


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News