A financial contribution may be required by the regulating authority as a means by which the operator bears some financial responsibility for any long-term risks and cost implications linked to CO2 storage. This could include a requirement to accrue finances during operation - which could include the raising of royalties by the state for storage site pore space use during the period of operator liability - and/or through other mechanisms to provide a long-term financial support to the state, such as trust funds, bonds and/or escrow account funds.
The next webinar to be hosted by the IEA CCS Regulators’ Network will have four speakers who will give an overview on the need for a financial contribution and then present some different options under consideration around the world.
The webinar concluded with a 20-30 minute Q&A with all our speakers.
Host: Brendan Beck - IEA
Moderator: Ian Havercroft - UCL CCLP
Presenter: A European Perspective - Kristofer Hetland - Statoil/ZEP
Presenter: A US Perspective - Melisa Pollak - University of Minnesota/CCSReg
Presenter: A Victorian State Perspective - Anna Beesley - Victorian Department of Trade and Industry
Presenter: An Industry Perspective - Ian Phillips - CO2 Deepstore/CCSA
Discussion: Panel of presenters
To listen to the recording of the event, CLICK HERE