Country:European Union
Policy status:In Force
Date Effective:2001
Policy Type:Economic Instruments>Fiscal/financial incentives
Policy Target:
Description:In 2001, the EU awarded a grant to BP Alaska to study capturing CO2 generated by combustion. BP operates the CO2 Capture Project, a consortium comprised of BP, Texaco, Chevron, Norsk Hydro, Royal Dutch/Shell, Statoil and Suncor Energy. This consortium is contributing US$ 8.8 million to the project, which is also receiving funding from Norway and the United States. Beginning in June 2001, the project will explore capturing CO2 generated by various fuels and combustion processes and sequestering it in unmineable coal seams and saline aquifers. This project is an example of a government-private sector partnership to develop new technology to meet environmental concerns.

Last modified: Fri, 06 Jul 2012 17:26:47 CEST