Policy status:Ended
Date Effective:2001
Policy Type:Economic Instruments>Fiscal/financial incentives
Policy Target:

In 2001, Norway awarded a grant to BP Alaska to study capturing CO2 generated by combustion sources. 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 also receives funding from the European Union and the United States. Beginning in June 2001, the project explores the capturing of 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.

This record is superseded by:CLIMIT Programme: Financing for Carbon Capture & Storage

Last modified: Thu, 14 Mar 2013 13:07:42 CET