Romania Could Develop A Quarter Of The EU’s 2030 Carbon Storage Capacity

Romania Could Develop A Quarter Of The EU's 2030 Carbon Storage Capacity - Carbon Herald
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According to a report by Romanian outlet, the two largest energy companies in Romania – Petrom and Romgaz – will have to develop around 9 million tons of carbon storage capacity by 2030. This would constute just under 20% of the EU’s 50 million storage capacity target.

The number is based on the country’s historic obligations, as formulated in the EU’s Net-Zero Industry Act (NZIA) which looks at long-term emissions, as well as proven storage capacity. These were the two main determining factors when it came to setting targets both in the short term, as well as those looking at full decarbonization by 2050.

The source of the news about the carbon storage targets in Romania is a presentation made by the country’s Oil and Gas Employers Federation (FPPG). Its report says that “After the exhaustion of hydrocarbon deposits, Romania can use offshore deposits to become an important actor in the development of this key decarbonization technology if they will meet the specific technical-economic criteria. Romania [also] has extensive experience and know-how in the field of CCS projects and technologies, from the perspective of its long tradition in the field of oil and gas exploration and exploitation.”

Storing CO2 would provide an exemption for emitters that have to pay for carbon allowances through the EU ETS, which are currently priced at 61 euros per ton, but are largely expected to appreciate in the coming years.

This development comes after several other projects in Southeast Europe have started to take shape. In Bulgaria Heidelberg Materials has been developing its ANRAV project with plans to start operations as early as 2028, with a target of capturing and sstoring 800,000 tonnes of CO2 annually.

Greece is also working on its storage capacity through two projects – the Prinos field on the northern coast of the country and RECODE, near the Piraeus port. Demand for storing CO2 in the pair has also come from Italy and France, who are looking for suitable locations for their emissions but don’t have enough capacity of their own.

Read more: CO2 From Italy To Be Stored In Greece

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