World needs 100 CO2 capture projects: IEA
"We will need 100 large scale projects by 2020, 850 by 2030 and 3,400 in 2050," Nobuo Tanaka told a CCS conference in London, adding many of the projects would have to be built in the developing world, outside the Organisation for Economic Co-operation and Development (OECD) group of industrialized countries that the IEA advises.
"The OECD must lead in the first decade but the technology must quickly expand in the developing world where we see the vast majority of emissions growth," he told the Carbon Sequestration Leadership Forum attended by energy ministers from around the world.
"By 2050 our estimates suggest that 65 percent of CCS projects must be located in non-OECD countries."
The IEA estimates $56 billion of investment will be needed in CCS globally from 2010-2020, followed by $646 billion from 2021 to 2030.
Related News
Share of coal in UK's electricity system falls to record lows
LONDON - The share of coal in the UK’s electricity system has fallen to record lows in recent months, according to government data.
The figures show electricity generated by the UK’s most polluting power plants made up an average of 0.7% of the total in the second quarter of this year. The amount of coal used to power the electricity grid fell by almost two-thirds compared with the same months last year.
A government spokesperson said coal-generated energy “will soon be a distant memory” as the UK moves towards becoming a net zero emissions economy.
“This new record low is a result of…
