IEA executive director Maria van der Hoeven praised Norway for taking a lead on CCS at ONS 2014, but also expressed concern about the cancellation of the full-scale CCS project at Mongstad.
- With the Sleipner, Snøhvit and Mongstad projects, Norway has been showing world-class leadership in CCS for more than 15 years, said van der Hoeven in her speech.
The IEA sees CCS as an important tool to reduce CO2 emissions and to reach the climate goals, but van der Hoeven also mentioned that the IEA does not see CCS as just a way to limit global warming. CCS can also be a way to more effectively develop fossil fuel reserves.
- Later this year, we will publish an in-depth look at how carbon capture can be part of enhanced oil recovery, or EOR: this win-win process uses the captured CO2 to squeeze out more oil or gas from deposits. We will show how EOR can become a cost-effective way to limit climate change while providing more supply for the fossil fuels that the IEA sees as a significant part of the energy mix for decades to come, she continues.
Maria van der Hoeven calls for more investments in the oil and gas industry to keep providing the energy security the world relies on. There is also a need for a political framework to ease the first steps in developing CCS.
In the debate that followed, van der Hoeven said that she was concerned about the decision Norway has made on Phase 2 of the Mongstad project, according to upstreamonline.com. She wants Norway to redouble their CCS efforts, but acknowledges the financial challenges of developing CCS and the lack of a political framework.
- ZERO has called upon the Norwegian government to scale up its CCS work, and it is encouraging to see support for this from the IEA, says Camilla Svendsen Skriung, policy advisor in ZERO, in a reply to van der Hoeven’s speech.
- However, it is important to develop renewable energy sources, and not focus exclusively on enhanced oil recovery.