GAS can play a big part in a future sustainable energy mix, but the industry has to help policy makers, planners and the public understand the non-price benefits of the fuel, according to a leading industry expert. Remi Eriksen, president and CEO of DNV GL – an international classification and services group – said the North Sea could become a carbon storage hub for Europe and at the heart of a new billion-dollar industry. In an analysis of the gas sector, Eriksen said the industry could take heart from government-industry CCS feasibility initiatives in Norway. “By 2022, the Norwegian Continental Shelf could host a CO2 storage hub,” he said. “Commercially, gas with CCS is technically feasible, but there are cost barriers as CCS technologies are still not widely deployed by industries. “As it becomes more widespread, infrastructure sharing, economies of scale, and technical innovation will improve its economic feasibility.” Eriksen added: “However, higher pricing of CO2 is needed to accelerate investments in these technologies.”
The National 25th Feb 2017 read more »