The 3rd Annual European Carbon Capture & Storage Summit

November 18th 2009 - November 19th 2009

Both the challenges and opportunities of CCS are coming into greater focus in the run up to Copenhagen, where world premiers will gather to address issues of climate change. The EU has made a firm commitment to developing CCS as a method by which to reduce carbon emissions, firstly, by the commission's announcement to contribute up to €50m to help China build a facility to test carbon capture and storage technology, and secondly, by having a dozen or so demonstration plants running by 2015 on the continent. The UK are also following suit, with a commitment from the government to provide financial support for up to four commercial scale CCS projects in Britain, and if the technology is proven, to be prepared for a nationwide roll out.

As a part of this commitment the UK government also unveiled a new strategy of pursuing coal power, pledging that no new coal plants will be developed unless they were able to store some of their carbon emissions underground. Renewable energy and energy efficiency were the main beneficiaries of the green measures in this year's budget. The Chancellor presented the first carbon budget, whereby the UK would cut its greenhouse gas emissions by 34% by 2020 compared with 1990 levels.

However, developing CCS is a costly exercise with projected costs to build and operate each demonstration plant estimated to be in excess of €1bn. The current economic crisis does not help the financial obstacles that the EU faces in funding demonstration projects, with reports that there is potential funding shortfall for the dozen or so pilot projects.

With many challenges and opportunities facing CCS at the moment, City & Financial bring you this timely summit, the third in the series, to discuss and debate some of these key issues by bringing together a speaker panel of exceptional quality. This year's agenda will take a closer look at the current economic climate, an update from European projects and UK demonstration projects, public perception of CCS, environmental issues, in depth discussions about the technology, economics and financing, legislation and risk management and finally international progress.

Attendance at this conference will be invaluable for all those involved in the development of CCS in Europe including generating and utility companies, technology suppliers, oil and gas companies energy ministries, energy regulators, project financiers, lawyers, technical consultants and academics 

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