France Signs Carbon Storage Agreement With Denmark

France Signs Carbon Storage Agreement With Denmark - Carbon Herald
Image: Kolja21, CC BY 3.0 , via Wikimedia Commons

On March 4th Denmark and France entered into an agreement that establishes a framework for the transportation and storage of CO2. The two countries are looking for ways to advance the international carbon capture and storage industry with a view of achieving the EU’s objective of emissions neutrality by 2050.

Lars Aagaard, Minister for Climate, Energy and Utilities stated afterwards that “Carbon capture and storage is a necessary tool when paving the way to our international climate goals, but we need it in a much bigger scale than it is today. We have to utilise both storage options, resources and projects across borders in order for the industry to grow – and in order for the EU to reach climate neutrality by 2050. This arrangement with France is a push towards an international industry for carbon capture and a push for climate neutrality.”

Denmark has prioritized the technology as a key pillar of its emissions strategy and set aside almost $4 billion last year to develop its transportation capabilities, as well as its storage capacity.

Relevant: Denmark To Boost Carbon Capture With $3.9B Investment

France also considers the technology as part of its decarbonization roadmap. It revealed its carbon capture strategy in mid-2023 and the agreement with Denmark is a specific step towards enforcing its strategy.

“Carbon capture and storage will be a key tool in the short run to decarbonise the European industry, and in the long run to provide an acceleration of the overall decarbonisation through an artificial carbon sink. France has issued an ambitious strategy to accelerate the deployment of this technology, up to 8 MtCO2 stored each year in 2030 and 20 MtCO2 in 2050. Our partnership with Denmark, a key actor in storage, will be key to reach these targets and accelerate collectively towards European climate neutrality in 2050,” said
Roland Lescure, French Minister Delegate for Industry and in charge of energy.

Relevant: France Launches Its First Carbon Capture Storage And Use Strategy

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