decarbonfuse Icons/logo

CCUS

EU Asks 44 Oil and Gas Producers to Provide New CO2 Storage Solutions

Published by Todd Bush on May 26, 2025

The European Commission said on Thursday it had asked 44 oil and gas companies to contribute to the EU's collective target of storing at least 50 million tonnes of CO2 per year by 2030, as part of the bloc's aim to achieve climate neutrality.

The companies are required to participate in the EU target in proportion to their share of the Union's crude oil and natural gas production from 2020 and 2023, the Commission said in a statement.

"Having extracted hydrocarbons and contributing to greenhouse gas emissions, (the European oil and gas industry) will now contribute to storing CO2 and help mitigate climate change," said Kurt Vandenberghe, head of the Commission's directorate general for climate action.

"By combining their industrial know-how with faster permitting processes and robust financial support — including from the ETS-resourced Innovation Fund — we can make substantial progress in advancing industrial decarbonisation and modernisation in Europe," he added.

>> In Other News: A Rebrand with Purpose: Carbon Capture Faces the Future, Not the Past

Icons/external Source

Add Comments

Subscribe to the newsletter

Icons/inbox check

Daily decarbonization data and news delivered to your inbox

Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.


Latest issues

  • Why Is Baker Hughes Betting $13.6B Now?

    Inside This Issue 🏭 Baker Hughes to Acquire Chart Industries, Accelerating Energy & Industrial Technology Strategy ⛽ Next Hydrogen Launches Ontario’s Largest Onsite Clean Hydrogen Refuelling S...

  • North Dakota Facility Starts Delivering Real CO₂ Removal

    Inside This Issue 💰 Gevo Sells Carbon Credits from North Dakota Asset ⚡ US Companies CPS Energy, Modern Hydrogen Agree to Work on Clean Power Generation Project ✈️ ESAF Takes Flight: Power-to-Liqu...

  • Carbon Waste Just Became a Gold Mine

    Inside This Issue 💰 Gevo Transforms Carbon Waste Into Market Gold 🛫 CADO and 4AIR Harmonize SAF Registries for Commercial and Business Aviation 🌊 Vortex Energy Receives Government Approval for Amb...

View all issues

Company Announcements

Daily decarbonization data and news delivered to your inbox

Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.

Subscribe illustration