UAE Urged to Take Lead in Carbon Capture

Speaking at the World Future Energy Summit on Tuesday, Haugland said that in order to uphold a sustainable growth in the future, a considerable reduction in carbon dioxide emission is necessary, and that CCS is a key technology in creating a de-carbonised energy future.

Main sources of carbon dioxide emission are fossil fuel power plants and large scale process industries. CCS is one of the most exciting and innovative means of reducing carbon dioxide — the approach is to isolate carbon dioxide from a gas stream and prevent it from emitting into the atmosphere by storing it in a suitable geological reservoir. At present, there are a number of CCS-related projects worldwide, but a full-scale end-to-end CCS chain does not yet exist. DNV believes, therefore, that the Middle East could potentially play a key role in leading the way forward globally, he said .

There are currently no standards and recommendations on how to manage large scale carbon dioxide capture, transport and storage.

DNV with its long standing experience in the maritime and oil and gas sector, coupled with its leading role in developing CCS technology, is keen to work with industry to develop adequate guidelines and procedures for critical parts of the CCS value chain. The aim is to make a consistent foundation so that Carbon dioxide capture, transport and storage can be carried out in a safe and reliable way.

Haugland said: “Creating a decarbonised energy future is vital, and the UAE and Masdar are uniquely positioned to take a leading role in this. DNV believes that while voluntary initiatives can work in the short term, a more strategic approach is required in the longer term, and we are keen to work with the UAE Government and companies in the region to drive this forward.”

Pointing out that the global carbon market is currently growing rapidly, with volumes in the first half of 2008 at $59 billion, Haugland said: “The carbon capture and storage industry represents a major growth opportunity for the oil and gas operators and coal and gas power plant operators, who not only have a strategic interest in making fossil fuel a future sustainable source of energy, but also have much of the needed technology in place as they are experts in geological reservoirs, wells and pipeline transport.”

DNV is an independent global foundation providing services for managing risk, helping customers to safely and responsibly improve their business performance.

ramavarman@khaleejtimes.ae