Norway set to support carbon capture and storage
Norway has announced that it will allocate €140 million to carbon capture and storage projects in selected beneficiary states under the next round of EEA and Norway Grants.
Ahead of a high-level conference on climate change in Bergen yesterday, Prime Minister Jens Stoltenberg announced that the Norwegian Government is prepared to earmark €140 million to develop carbon capture and storage (CCS) under the next round of EEA and Norway Grants. Negotiations for a new five-year period of grants are ongoing between the donor states Iceland, Liechtenstein and Norway, and the European Commission.
"The EU is a driving force in the development and implementation of CCS technologies. As part of our total contribution during the next period of the EEA Financial Mechanisms, Norway wants to earmark at least €140 million over a five year period, to support CCS projects in selected EU member states," said Prime Minster Jens Stoltenberg.
The Prime Minister highlighted the importance of providing the energy needed to sustain economic growth and lift more people out of poverty in the years to come. Since the world`s energy supply will still largely depend on fossil fuels, carbon capture and storage will be important tools to reduce global greenhouse gas emissions.
Among the participants at the Norwegian Government`s high-level conference Fighting Climate Change with Carbon Capture and Storage, were Rajendra Pachauri, a Nobel Peace Price Laureate and member of the United Nations Intergovernmental Panel on Climate Change, and Nobuo Tanaka, Executive Director of the International Energy Agency, together with a range of ministers from around the world.
Photo: Office of the Prime Minister