CO2GEONETProject reference: 502816
Funded under :
Network of Excellence on Geological Sequestration of CO2 (CO2GEONET)
This NoE "CO2GeoNet" (13 institutes) contains a critical mass of research activity in the area of underground carbon dioxide (CO2) storage. World projections of energy use show that fossil fuel dependency will continue to 2030 and beyond; but sustainability will need CO2 emissions reducing by 60% by 2050. This will be difficult. It will require various strategies. The associated rise in global CO2 emissions, without abatement, will be at an average rate of 1.8% per annum (from the current value of 25Gt p.a., to 38Gt by 2030); a rise of over 50%. This will be catastrophic for the planet's sustainability. Urgent action is needed. Europe's CO2 emissions will rise by an average of 0.6% p.a. up to 2020, from a 2000 level of 3.1Gt to 3.5Gt by 2020. The rocks under the N. Sea have a theoretical capacity for storing over 800Gt of CO2. Capturing CO2 from industrial point sources and storing it underground (a process that mimics Nature) is a very attractive route to making cuts in CO2 emissions. CO2 capture and storage allows diverse fuel inputs/outputs, enhances security of supply and is well aligned with hydrogen production from fossil fuels. Through the Joule 2, FP4 & 5 projects Europe has led the world on R&D in this area, with rapid growth this decade. National programmes are also emerging. This success has a downside, by creating fragmentation through diversification. N. America despite its rejection of Kyoto (except Canada), has recently embraced CO2 capture and geological storage and is allocating huge resources (over $4bn) over the next 10 years. Europe, as a result, risks losing its head start. We therefore must work more effectively and restructure accordingly. The main aim of CO2GeoNet will be to integrate, strengthen, and build upon the momentum of previous and existing European R&D, as well as project European excellence internationally, so as to ensure that Europe remains at the forefront of CO2 underground storage research'
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