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The Low Carbon Economy Ltd

16 Apr 2009 04:04:05

CCS becoming a viable option for reducing emissions



CCS becoming a viable option for reducing emissions
With the world's energy demands expected to grow by as much as 45 percent by 2030, carbon capture and geological storage (CCS) technologies have the potential to become a viable means of achieving sustainability.

That is according to the latest study from Energy Insights, the energy market research company, which claimed that success of the technology will depend upon collaboration between utility companies and oil and gas firms.

It suggested that CCS - which allows for carbon emissions to be trapped, compressed and stored within the ground - has significant potential to mitigate the effects of rising levels of greenhouse gases, particularly within Europe.

Roberta Bigliani, Energy Insights research director for Europe, Middle East and Africa, maintained that improving energy efficiency and using more renewable sources remain "vital" to reducing emissions.

However, she added: "Fossil fuels, like it or not, will remain the world's main source of energy for a while.

"Indeed, cleaning up fossil fuels is a necessary additional option in the full portfolio of actions that will lead us to a low-carbon future."

Last month, Energy Insights predicted that the recently-announced US economic stimulus package could generate $101 billion (£68 billion) of technology spending in the next five years, a large amount of which will focus on the energy market.

http://www.idc.com/EI/research/index.jsp

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