By Ed Crooks
Published: June 30 2007 03:00 | Last updated: June 30 2007 03:00
Royal Dutch Shell and Statoil, Norway’s nationaloil company, have dropped ambitious plans for a demonstration project to capture carbon dioxide emitted by a power station and inject it under thesea, saying it was technically feasible but not commercially viable.
The Statoil-led project would have taken carbon dioxide from a gas-fired power station in Norwayand injected it into an oilfield for enhanced oil recovery.
Statoil said the extra oil that could be recovered was “too low to justify the necessary investments in the field.”
The decision follows BP’s cancellation of a similar proposed project at Peterhead in north-east Scotland.
Carbon capture iswidely seen as an important technology for reducing greenhouse gas emissions.
However, its highcost means that inmost circumstances it is prohibitively expensive without generous financial support.
Copyright The Financial Times Limited 2007
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