Published by Todd Bush on July 15, 2024
The French government last week published its long-awaited national strategy for CCUS.
The strategy calls for a progressive increase in capture capacity (with targets for 2025-2030, 2030-2040, and 2040-2050), the creation of a Carbon Contract for Difference (CCfD) mechanism and announces the creation of a regulatory framework for transport before the foreseen EU-level legislation on the issue.
>> In Other News: Joby Makes Landmark 523-mile Hydrogen-electric Flight
Chris Davies, Director of CCS Europe, commented on the publication of the strategy: "After a year of consultation, France now confirms that carbon capture technologies are needed to curb emissions from hard-to-abate industry sectors and to reduce the concentration of CO2 already in the atmosphere.”
The French strategy for CCUS calls for a progressive increase in capture capacity, with targets for 2025-2030, 2030-2040, and 2040-2050, The majority of which will come from two hub locations where infrastructure can be concentrated. The strategy also calls for the creation of a Carbon Contract for Difference (CCfD) mechanism and announces the creation of a regulatory framework for transport before the foreseen EU-level legislation on the issue.
In response to the targets for carbon capture laid out in the strategy, Davies said: “France says it wants to capture up to eight million tons of CO2 annually by 2030, growing to 20 million by 2040. This sends a strong message to governments across Europe that have yet to engage with the need for CCS to decarbonize industry, but there is a lot to be done in a short period if the 2030 target is to be achieved. Transport and storage infrastructure must be created where none exists at present, and this will require an active role by the government.
“While the publication of a CCUS strategy is a welcome first step, most important will now be for ministers quickly to provide details of the financial support that will be made available to create the business case for investment, without which nothing will happen.”
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🧪 $400M Bet on Blue Ammonia: Industry Giants Push Carbon Capture in Louisiana 🏭 Linde Signs Long-Term Agreement to Supply Industrial Gases to World-Scale Low-Carbon Ammonia Facil...
Inside This Issue 🔌 BP's Indiana Exit Is Not the Endgame for Clean Hydrogen ☀️ Cadiz Signs Second MOU for Hydrogen - Solar Development at Cadiz Ranch 🏗️ Heidelberg Materials Inaugurates Brevik CCS...
Inside This Issue 🧩 Who Gets Left Behind? Inside the Senate Plan Reshaping America's Clean Energy Future 🌿 TMD Energy Limited Enters into Strategic Memorandum of Agreement to Advance Green Bioener...
Carbon Upcycling Technologies ("Carbon Upcycling"), a leader in carbon and resource utilization, announced today the closing of its USD 18 million investment round led by Builders Vision, a team of...
BUSE Gases Limited is excited to announce a transformative 10-year offtake agreement with Acorn Bioenergy, marking a significant leap forward in our commitment to sustainability and innovation. Un...
Back by Aramco Ventures, Khosla Ventures, Mitsubishi Heavy Industries America, and TDK Ventures, Spiritus is set to transform carbon removal, turbocharging America’s AI-driven future with energy an...
WOKING, England--Linde (Nasdaq: LIN) today announced it has signed a new long-term agreement with Blue Point Number One, a joint venture between CF Industries, JERA and Mitsui & Co.. Under the ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.