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Improving the Regulatory Framework, optimizing organization of the CCS value chain and financial incentives for CO2-EOR in Europe

Improving_the_regulatory_framework

Authors: Laetitia Birkeland, Gøril Tjetland, Eivind Hoff, Charles Eickhoff, Dragutin Domitrovic, Christian Bernstone, Adela Pages

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The article is a result of scientific work in the ECCO project, a project which received funding from the European Community`s Seventh Framework Programme (FP7/2007-2013).

The main objective of the project was to facilitate strategic decision making regarding early and future implementation of CO2 value chains. Europe is the world region with the most comprehensive pricing of CO2 emissions. Yet, CCS is not widespread. ETS is leading the way, but provides insufficient investment security. Other incentives are thus needed. This article looks at a range of alternative ways to stimulate investments in CCS – without putting the burden on public budgets. If general CCS incentives are not politically feasible, specific incentives aimed at CO2 for enhanced petroleum production (CO2-EOR) could be considered. The article also covers the current legal regime, regulatory framework and the overall organization of the CO2 value chain.

See a presentation of the report here.

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