New Oxford Institute for Energy Studies Energy Insight discusses lessons learned from Norway’s experience with CCS 👉 Link to Energy Insight: https://lnkd.in/egi8x_gr Key points: 🔹 Norway is widely considered a global leader in carbon capture and storage (#CCS) with decades of experience in technology development and project implementation 🔹 As competition in the #hydrocarbon industry broadened to include areas such as #sustainability and emissions reduction from oil and gas activities, CCS can play a key role in sustaining and increasing global competitiveness of Norwegian oil & gas 🔹 Several factors contributed to country’s relative success in CCS to date including availability of rich offshore CO2 storage resources and a robust #carbontax which has been in place since 1991 🔹 Norway’s focus on developing international CCS policy also resulted in first global full-chain CCS project, the Longship project, providing a flexible solution to capture CO2 from various emitters nationally and across borders to be transported and stored under the Norwegian Continental Shelf 🔹 Government’s substantial ownership and participation in CCS projects played a key role, particularly through its establishment of Gassnova which took on the project integrator’s role and bore some of the #integration risks inherent in CCS projects. This enabled emission source owners to advance projects without needing to establish their own #transport and #storage solutions 🔹 In 2014, the EU CCS Directive was implemented into Norwegian law and since then government has worked with the EU Commission to resolve issues pertinent to the capture of CO2 from both fossil and biogenic sources and from sectors covered under EU-ETS and others not, in addition to #crossborder CO2 transport 🔹 Government also provided generous funding for CCS projects through state aid agreements which supplemented the #EUETS price as well as a recently-implemented national combustion tax 🔹 These state aid agreements provide cost assurances for both capital and operational expenditure up to a defined limit, thus reducing project and interface risks for industrial partners 🔹 Amendment to Article 6 of #LondonProtocol further allows Norway to enter into #bilateral agreements with neighbouring countries for transport of CO2 across borders, resulting in such agreements with Netherlands, Belgium, Sweden, Denmark and Switzerland 🔹 Compared with other countries studies show relatively high #publicacceptance of CCS as a decarbonization solution in Norway, which further enabled its development #carboncapture #energytransition #carbonmanagement #industrialdecarbonization With thanks to Cathrine Ringstad at Bellona Europa for her insightful feedback and review of this paper. ------------------------------------------------------------------- Visit OIES Carbon Management Programme 👉 https://lnkd.in/e92AsGkz
Oxford Institute for Energy Studies’ Post
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Professor of Energy and Resources Law at Macquarie University Editor-in-Chief, Australian Energy and Resources Law Journal
An excellent analysis well worth reading
New Oxford Institute for Energy Studies Energy Insight discusses lessons learned from Norway’s experience with CCS 👉 Link to Energy Insight: https://lnkd.in/egi8x_gr Key points: 🔹 Norway is widely considered a global leader in carbon capture and storage (#CCS) with decades of experience in technology development and project implementation 🔹 As competition in the #hydrocarbon industry broadened to include areas such as #sustainability and emissions reduction from oil and gas activities, CCS can play a key role in sustaining and increasing global competitiveness of Norwegian oil & gas 🔹 Several factors contributed to country’s relative success in CCS to date including availability of rich offshore CO2 storage resources and a robust #carbontax which has been in place since 1991 🔹 Norway’s focus on developing international CCS policy also resulted in first global full-chain CCS project, the Longship project, providing a flexible solution to capture CO2 from various emitters nationally and across borders to be transported and stored under the Norwegian Continental Shelf 🔹 Government’s substantial ownership and participation in CCS projects played a key role, particularly through its establishment of Gassnova which took on the project integrator’s role and bore some of the #integration risks inherent in CCS projects. This enabled emission source owners to advance projects without needing to establish their own #transport and #storage solutions 🔹 In 2014, the EU CCS Directive was implemented into Norwegian law and since then government has worked with the EU Commission to resolve issues pertinent to the capture of CO2 from both fossil and biogenic sources and from sectors covered under EU-ETS and others not, in addition to #crossborder CO2 transport 🔹 Government also provided generous funding for CCS projects through state aid agreements which supplemented the #EUETS price as well as a recently-implemented national combustion tax 🔹 These state aid agreements provide cost assurances for both capital and operational expenditure up to a defined limit, thus reducing project and interface risks for industrial partners 🔹 Amendment to Article 6 of #LondonProtocol further allows Norway to enter into #bilateral agreements with neighbouring countries for transport of CO2 across borders, resulting in such agreements with Netherlands, Belgium, Sweden, Denmark and Switzerland 🔹 Compared with other countries studies show relatively high #publicacceptance of CCS as a decarbonization solution in Norway, which further enabled its development #carboncapture #energytransition #carbonmanagement #industrialdecarbonization With thanks to Cathrine Ringstad at Bellona Europa for her insightful feedback and review of this paper. ------------------------------------------------------------------- Visit OIES Carbon Management Programme 👉 https://lnkd.in/e92AsGkz
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European Commission approves €998 million Dutch hydrogen scheme 🇪🇺🇳🇱 The European Union Commission has announced its approval of a €998 million Dutch renewable hydrogen production scheme to accelerate the green transition and boost energy security The scheme aims to accelerate the green transition – the shift from fossil fuels to renewable and sustainable energy sources. This initiative will provide state aid to renewable hydrogen production projects with a capacity of at least 0.5 MW, supporting the Netherlands’ goal of reaching 500 MW of electrolyser capacity by 2025 and 3-4 GW by 2030. Grants will be awarded through a competitive bidding process concluding in 2024. The grant includes an upfront investment covering up to 80% of the project costs, followed by a variable premium paid over 5 to 10 years. The Netherlands’ scheme was evaluated under the EU’s state aid rules, specifically Article 107(3)(c) of the Treaty on the Functioning of the European Union. This article makes allowances for Member States to grant state aid to support the development of a limited number of economic activities. Central to the EU is its single market, which facilitates the free movement of goods, services, capital, and people. Therefore, state aid proposals must demonstrate that the benefits of making aid available outweigh potential negative impacts, such as distorting competition. Alongside proving the above,... Read the full article for free at Driving Hydrogen: https://lnkd.in/e7FQYTZf For those keen to stay ahead of the curve, follow Driving Hydrogen® for all the latest. #EU #EUCommission #Netherlands #NLHydrogen #Electrolysers #GreenHydrogen #H2Infrastructure #DrivingHydrogen
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Renewable power market analyst⚡ | Master Student in Renewable Energy Systems(Fornybar Energi) 🌱 | Passionate Content Creator 📸| Driving Sustainable Innovation for a Greener Future 🌍
Norway's Renewable Energy Industry at a Crossroads: Lagging Behind EU Legislation #Norway, a nation renowned for its commitment to sustainability, is facing significant challenges in its renewable energy sector due to delays in aligning with the EU's energy legislation. As highlighted in a recent article, our lag in adopting the EU's Renewable Energy Directive and other crucial #energy laws is creating tangible setbacks for businesses. 🔹 Certification Hurdles: Norwegian green hydrogen cannot currently be certified within the EU, limiting access to key markets and partnerships. 🔹 Funding Barriers: Our projects are encountering difficulties accessing the EU's Hydrogen Bank, a vital financing mechanism established to accelerate renewable hydrogen production. 🔹 Aviation Setbacks: Norwegian aviation can't register renewable fuel in EU databases, forcing airlines to purchase additional emissions allowances. These issues stem from a backlog of around 500 EU legal documents not yet incorporated into the EEA Agreement. Special Adviser Knut Kroepelien from Renewables Norway Norge emphasizes that this situation has become unsustainable for businesses. The uncertainty is causing investment decisions to be postponed, risking Norway's position in the rapidly evolving renewable energy landscape. Why Does This Matter? #Hydrogen is poised to be a key player in replacing #oil and #gas industries. Without harmonized regulations, Norwegian producers risk losing customers who require compliance with EU standards. The delayed adoption not only hampers current operations but also stifles future innovation and growth. The Path Forward : It's imperative for Norway to expedite the incorporation of #EU energy legislation. Aligning our policies will: ✅ Provide clarity and stability for investors and businesses. ✅ Ensure equal footing for Norwegian producers in the #European market. ✅ Strengthen our commitment to a sustainable and renewable future. Let's leverage Norway's potential in renewable energy by breaking down these legislative barriers. Collaboration between government, industry, and stakeholders is essential to drive this change. Join the Conversation How can we, as professionals and advocates, support the acceleration of aligning Norway's energy laws with the EU? Your insights and suggestions are welcome. . . . #EnvironmentalPolicy #EnergyLegislation #Renewables #RenewableDirective #ScenarioAnalysis #EnergyForecasting #EnergyTrends #EnergyOutlook #DataAnalysis #MarketAnalysis #EnergyModeling
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Pioneering Sustainable Solutions: Climate Finance Advocate Integrating Innovative Policies with Measurable Impact for a Net-Zero Future
The government of the UK has committed to invest £22 billion in CCS projects over next 25 years to achieve its net-zero target by 2050. A few points of concern: ✅ Though CCS is helpful for industries like cement and steel, this technology is not widely tested at the scale needed. ✅ The huge costs involved in the supply chain have already led the government to scale back its initial plans of financing 8 projects to 3 projects. ✅ It might keep the country dependent on fossil fuels (like natural gas) for many years. The UK would still need to import gas, leaving it vulnerable to price changes in the global energy market. ✅ Carbon capture projects around the world have had similar problems with high costs and technical difficulties. It will be interesting to see how the UK government overcomes these challenges while balancing the use of CCS with the transition to renewable energy. #CCS #ClimateChange #NetZero #RenewableEnergy #UK (Full Article 👇)
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What I wrote in October 2023 about EU hydrogen targets: "Managing expectations seems particularly important in the case of hydrogen. Analysing the history of hydrogen, the technology has suffered from many false-starts and its emergence has followed politically-driven hype cycle trends. The enormous versatility of applications of the hydrogen molecule makes it susceptible to overestimation. However, renewable hydrogen must be conceived as a scarce and expensive commodity whose priority uses must be as industrial feedstock, reducing agent for metallurgy and in those applications whose electrification is not feasible (long-haul aviation, shipping and certain high temperature industrial processes). It is important to maintain a realistic hydrogen narrative that does not divert investments in decarbonisation away from more efficient uses. The Commission may have to re-examine its hydrogen targets, in particular its green import ones, and reassess the feasibility and cost of achieving them. Presenting realistic targets is essential to send the right signals to the domestic market and not weaken the EU’s credibility as an international energy and climate actor" Full article here: https://lnkd.in/d8Xc69Di
'The auditors have determined that the European Commission set overly ambitious targets that were driven solely by political will and did not follow a robust analysis. They acknowledge that the legal framework is almost complete but note that agreeing on the rules that define renewable hydrogen took time, resulting in many investment decisions being deferred. “The EU should decide on the strategic way forward towards decarbonisation without impairing the competitive situation of key EU industries or creating new strategic dependencies,” commented Stef Blok, the ECA Member in charge of the audit.'
Auditors claim EU set overly ambitious 2030 renewable hydrogen targets
renewablesnow.com
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The rapid uptake of clean energy technologies offers major opportunities for countries looking to manufacture and trade them, according to a new International Energy Agency (IEA) report. #renewableenergy #energytransition #opportunities
Renewables uptake 'offers major opportunities'
renews.biz
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We’ve teamed up with key industry partners to drive the #EUGreenDeal and establish a new #IndustrialDeal. This collaboration is crucial for achieving Europe’s climate-neutral future and energy security. 💪 Our goal: Strengthen energy-intensive industries and ensure materials and equipment for renewable energy infrastructure are made in Europe, supported by globally competitive clean energy. Read more about our joint statement: https://lnkd.in/dttZ9_J2 Cefic The European Steel Association (EUROFER) Eurometaux (European Metals Association) WindEurope
Advancing the Green Deal. Setting a new Industrial Deal. Securing Europe’s Prosperity.
cembureau.eu
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Consultant, analyst, editor, and journalist. Covering global energy for 20 years. Focus on Asia Pacific.
#Australia needs to provide clearer direction and greater regulatory certainty for project developers and potential customers seeking long-term certainty for #CCS developments if they want to unlock the opportunity, according to this report. Moreover, no surprise that Australia’s #CCS opportunity is rooted in facilitating other countries’ #netzero ambitions. CCS is a costly business and the economics of scale will be key to get big CCS projects across the line, meaning Australian developers need to find third party customers keen to export their emissions from elsewhere in APAC.
#Australia’s #CCS opportunity is rooted in facilitating other countries’ #netzero ambitions. Australia could unlock up to $600 billion in revenue by creating a #carbon #capture and #storage (CCS) industry and becoming a storage hub for the Asia-Pacific region, reports global #energy research firm, Wood Mackenzie In an article published in the 2024 Australian Energy Producers Journal, Wood Mackenzie emphasised that Australia's CCS opportunity is rooted in facilitating other countries' net zero ambitions. https://lnkd.in/gGfPXx_s
Australian carbon storage hub a $600 billion opportunity, says Wood Mackenzie
energynewsbulletin.net
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A good read on the world of new(ish) technologies such as carbon capture & energy storage but also LNG, in a 'critical year' as the UK bids to achieve net zero emissions goal by 2050. #carboncapture #netzero #energystorage
A ‘critical year’ for the UK’s carbon capture ambitions
ft.com
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Last night the Australian Government passed the voluntary Guarantee of Origin Scheme. This legislation seeks to authenticate low-emissions products and support renewable electricity. This scheme aligns Australian certification to international standards to better enable the export of green products and in particular green hydrogen. PPAs are mostly structured to enable the introduction of new greening schemes, but it will be interesting to see how this new scheme impacts bundled green certificate pricing and long term financial resilience of renewables https://lnkd.in/gwnbwjii.
Pressing GO on a future made in Australia
minister.dcceew.gov.au
Global Segment Lead Hydrogen
5moThe past 20 CCUS years for all involved, DNV and myself have been learning, learning and learning, regulatory with safety first, as well as technical and economical learning for all stakeholders. Thanks to visionary Gassnova SF and Energidepartementet (Norge) with the rest of the Norwegian industry and politicians. It’s been a team effort, “dugnad” as we say in Norwegian, for nothing less than aiming for long term deep decarbonization and decarbonized energy security, part of ensuring democracy with high living standards.