Conference in Oslo initiated by the European Commission discusses development of green technologies

Date

2019 09 10

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On 5th of September, Minister of Energy Žygimantas Vaičiūnas visited Oslo (Norway) to attend high-level conference, at which perspectives of carbon dioxide (CO2) capture and storage technology and its role in EU's transit to climate-neutral economy were discussed.

The European Commission (EC) and the International Energy Agency (IEA) emphasise the need for EU Member States to develop CO2 capture and storage projects to enable transit to climate-neutral economy. The analysis conducted by the IEA shows that in the scenario of green technology CO2 capture, storage and utilisation technology will make its contribution of up to 24 per cent in reduction of all emissions, which is expected to be reached by 2060 according to the climate goals set in Paris Agreement.

'Attention devoted to carbon dioxide collection and storage in Europe has been increasing recently, and significant EU financial support is planned. Economically-sustainable implementation of Paris Agreement is impossible without this technology. Countries, including Lithuania, are actively exploring perspectives of CO2 collection and storage technology when preparing their national actions plans in the field of energy and climate for 2021-2030', said Minister of Energy Ž. Vaičiūnas.

EU Commissioner for Climate Change and Energy Miguel Arias Cañete informed the conference about assignment of financial support of EUR 11 billion by the European Innovation Fund in 2020-2030 for five strategic fields, including CO2 capture and construction and operation of CO2 storage facilities.

The IEA forecasts the contribution of CO2 capture and storage technology into reduction of emissions will be third by its size after energy consumption efficiency (39 per cent) and renewable energy resources (36 per cent).  The Agency forecasts fast growth of  CO2 capture and storage technology: from yearly capture of 33-57 up to 5000 tons of CO2 per  year. Until 2030, the IEA green technology scenario stipulates storage of over 107 gigatons of CO2 by 2060, which will be generated in energy generation, transport and industry sectors.

The most progressive CO2  capture and storage projects under implementation in Europe were introduced at the conference. Norway is among leaders in the world in development of technologies enabling reduction of greenhouse gas quantities. CO2 capture and storage projects are considered in the perspective of 2020-2030 by the United Kingdom, Netherlands, Finland, Denmark, Ireland, Slovenia, Norway, and other countries.

In 2018, the European Commission Communication A Clean Planet for All distinguishes CO2 capture and storage as one of seven main measures reducing CO2 emissions in the EU, along with promotion of efficient energy consumption, renewable energy, green transport development, ring economy, etc.  According to the EC, to use the potential of CO2 capture and storage fully, coordinated decisive actions ensuring implementation of this kind of projects in the EU must be taken.

The conference European High Level Conference on Carbon Capture and Storage was organised by the European Commission together with the Government of Norway. It received about 400 participants from Europe and international institutions, companies and organisations holding leading positions in the fields of development and policymaking of CO2 capture and storage technology.  Equinor, Shell, Total, Fortum companies and 6 European industry corporations signed a memorandum on creation of the value chain of CO2  capture, supply and storage.

Ž. Vaičiūnas met Norwegian Minister of Fuels and Energy Kjell-Børge Freiberg and discussed matters of bilateral cooperation. Major attention was focused on liquefied natural gas (LNG) supply via the LNG terminal in Klaipėda. Drop in LNG prices on the global market resulted in record supply of gas into Lithuania.