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Near all modelling scenarios towards EU climate neutrality by 2050 highlight the key role of CO2 capture, transport and storage[1]. While several such projects are under way in the EU, current rates of project development and deployment are insufficient to meet the needs for net-zero by 2050.
To spark market development and project deployment, the full carbon capture, storage and transport to storage value chain must be supported. Currently, transport of CO2 to storage via pipeline, and storage projects themselves, can access both administrative support mechanisms and funding through the Connecting Europe Facility (CEF). But, other transport modalities such as ship, barge, rail and truck do not have the same access to support and funding. As a relatively low-cost alternative with more flexibility, compared to pipelines, and with European cross-border benefit potential, the lack of support for multiple transport modalities results in negative market signals and continued high investor risk - delaying market development and vital emission reduction on the path to net-zero.
Join us for an interesting event where we will delve into the importance of multiple modalities transporting CO2 to storage on the path to net-zero, main challenges and market barriers facing project deployment, and coverage, or lack thereof, in EU legislation such as the ongoing revision of the TEN-T Regulation.
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