CO2 storage: Keeping the bar high for the oil and gas industry

(EurActiv, 11 Dec 2023) As EU policymakers enter final negotiations on the Net-Zero Industry Act, they should secure ambitious provisions for CO2 storage. Article 18 must be safeguarded to ensure oil and gas producers are held accountable for developing carbon storage, writes Matteo Guidi.

Matteo Guidi is a senior policy analyst at Carbon Gap, a European environmental NGO focused on responsibly scaling up carbon dioxide removal as an important complement to emission reductions.

The main focus of the Net-Zero Industry Act (NZIA), proposed by the European Commission in March 2023, is to scale up the manufacturing of clean technologies in the EU. The proposal also contains a chapter on the need to accelerate the delivery of CO2 injection capacity across the Union.

Developing CO2 storage at scale is essential for the EU’s efforts to deploy carbon management technologies such as carbon dioxide removal (CDR) and carbon capture and storage (CCS). Both these families of technologies are required if Europe is to reach climate neutrality by 2050, according to leading scientific bodies, including the European Scientific Advisory Board on Climate Change.

Importantly, the European Parliament added CDR to the net-zero technologies supported by the NZIA, filling a significant gap in the Commission’s proposal.

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EurActiv, 11 Dec 2023: CO2 storage: Keeping the bar high for the oil and gas industry