Carbon Dioxide Capture and Geological Storage: Contributing to Climate Change Solutions

Abstract

Concern about global climate change, and the challenges and risks it poses, will require sustained efforts to develop understanding and effective solutions while at the same time meeting the growing needs of society for energy. The development and utilization of technologies to capture and then store CO2 in underground formations offer significant potential for reducing CO2 emissions. This paper is based on the outcomes of an IPIECA workshop to advance understanding of the role of CO2 capture and geologic storage, and strategies to improve its performance and prospects. It considers CO2 capture and geological storage as a potential option for reducing future emissions of Greenhouse Gases (GHGs) from the extraction of resources, the production and use of fuels, and the generation of electricity. In doing so it examines: roles CO2 capture and geologic storage may play over the next century extending from the current assessment of this technology family; risk management to ensure safe and secure geologic storage drawing from understanding and past experiences; public perception, policy and regulatory frameworks that pose opportunities and barriers for CO2 capture and geologic storage and; initiatives and strategies to advance CO2 capture and geologic storage by reducing cost and risk, and developing sound regulatory and policy frameworks to encourage development of options for deep reductions in CO2 emissions. Introduction Concern about global climate change, and the challenges and risks it poses, will require sustained efforts to develop understanding and effective solutions while at the same time meeting the growing needs of society for energy. Development and utilization of technologies to capture and then store carbon dioxide (CO2) in underground formations offer significant potential for reducing CO2 emissions. IPIECA convened an international workshop in October 2003 to advance understanding of the role of CO2 capture and geologic storage, and strategies to improve its performance and prospects. The workshop brought together experts from academia, business, governments, and intergovernmental and nongovernmental organizations to consider CO2 capture and geological storage as a potential option for reducing future emissions of greenhouse gases (GHGs) produced in the extraction of resources, the production and use of fuels and the generation of electricity. Four sessions examined:the roles that CO2 capture and geologic storage may play over the next century;risk management to ensure safe and secure geologic storage, drawing from understanding and past experiences;public perception, policy and regulatory frameworks that present both opportunities for, and barriers against, CO2 capture and geologic storage; andinitiatives and strategies to advance CO2 capture and geologic storage by reducing cost and risk, and developing sound regulatory and policy frameworks to encourage development of options for deep reductions in CO2 emissions. This paper summarizes the IPIECA Climate Change Working Group's understanding of the presentations and discussions at the workshop. We are grateful to all participants for their efforts and contributions throughout the workshop which, together with this publication, is part of an ongoing effort by IPIECA to provide constructive input on key climate change issues.