Shell urges action on carbon capture policies

20 June 2008 00:08  [Source: ICIS news]

NEW YORK (ICIS news)--Global carbon capture policies need to change in order to meaningfully reduce carbon dioxide (CO2) emissions, a Shell executive said on Thursday.

Shell advocates the use of emissions trading as the primary incentive for low-cost carbon capture and storage (CCS), as well as incentives that bridge the “financing gap” created by the short-term nature of existing trading programmes.

“We have to bridge that gap and get through the learning-by-doing phase; that will need some special incentives. They may come from governments or they may come from other mechanisms. But they are needed if we are going to realise the potential of CCS in time,” said John Barry, vice president for unconventionals and enhanced oil recovery at Shell Exploration and Production International, on a company webcast.

CCS processes are not unknown, but their high cost has slowed implementation, said Barry.

Shell also supports a clear regulatory framework to manage any environmental and health risks, and international and national laws to recognise and permit CCS operations, with amendments to existing law where required, he said.

“We will need legal frameworks which talk about ownership of the subsurface, how you can get a permit to dispose of the CO2, and long-term liabilities,” said Barry.

Barry cited the EU’s Draft Directive published this year as a good example to follow.

“Not yet enacted as a law, as it were, but I think it contains many of the sorts of elements that would be needed to make [CCS] take off,” he said.

To discuss issues facing the chemical industry go to ICIS connect
Bookmark Doris de Guzman’s Green Chemicals Blog for some independent views on green technologies


By: Ivan Lerner
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index