• 3 days Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 3 days Statoil Changes Name
  • 3 days Tillerson just sacked ... how will market react?
  • 2 days Russian hackers targeted American energy grid
  • 2 days Is $71 As Good As It Gets For Oil Bulls This Year?
  • 4 days Petrobras Narrows 2017 Loss, Net Debt Falls Below $85bn
  • 4 days Proton battery-alternative for lithium?
  • 3 days Ford Recalls 1.38 Million Vehicles (North America) For Loose Steering Wheel Bolt
  • 2 days Oil Boom Will Help Ghana To Be One Of The Fastest Growing¨Economies By 2018!
  • 2 days Country With Biggest Oil Reserves Biggest Threat to World Economy
  • 3 days I vote for Exxon
  • 2 days HAPPY RIG COUNT DAY!!
  • 4 days UK vs. Russia - Britain Expels 23 Russian Diplomats Over Chemical Attack On Ex-Spy.
  • 3 days Why is gold soooo boring?
  • 3 days South Korea Would Suspend Five Coal - Fire Power Plants.
  • 2 days Spotify to file $1 billion IPO
Alt Text

Why China Can’t Shake Its Coal Dependency

China’s drive to reduce its…

Alt Text

North Korea Hit Hard As Coal Exports To China Fall 71%

Chinese coal imports from North…

Alt Text

Unexpected Move From China Boosts Coal Prices

After falling for a couple…

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

Trending Discussions

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

Back to homepage

Trending Discussions

Leave a comment

Leave a comment

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