Europe wants to develop carbon capture and storage

Europe has set itself ambitious targets for CO2 storage, with 50 million tonnes stored by 2030 and 450 million tonnes stored by 2050, or around 13% of European emissions (and 24% in the UK). According to the Institute for Energy Economics and Financial Analysis (IEEFA), carbon storage is far from being a proven technology. The institute estimates that the full cost (capture, transport and storage) of one tonne of CO2 is between €150 and €200 per tonne. IEEFA has identified 5 projects in operation, mostly demonstrators or micro-units. Of the 195 projects announced for development, 11 capture facilities are currently under construction.