The highly praised Shell-Statoil CCS (carbon capture and storage) project in the Norwegian Sea (Draugen) is not financially viable. That is the result of a joint feasibility study undertaken by both energy groups. The two energy companies have therefore decided to bury the project.
This is the second setback in a few months for one of the so-called “miracle” solutions to tackle climate change. In May, BP also decided to abandon one of its planned carbon capture plants in Scotland.
- Energy business review online: Statoil and Shell decide against carbon capture project
- Statoil: Press release “Halten CO2 value chain: Technically feasible, but not commercially viable”
- EurActiv’s LinksDossier on Carbon Capture and Storage