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RENEWABLES / CLIMATE CHANGE TRENDS
 
Vol. IX Issue. 8
Shell, Total seek EU support for carbon capture as price too low

07 August 2012

August 3, 2012. Royal Dutch Shell Plc and Total SA are among a group asking the European Union to boost support for projects to trap and bury carbon as low prices in the region's emissions trading system deter investment in the technology. Carbon for December fell to a record 5.99 euros a metric ton April 4 as the euro crisis slows growth leaving the market with an excess of permits awarded for emission cuts. Investors won't pay for CCS projects, costing about 1 billion euros ($1.2 billion) each, if the value of the permits awarded is too low. TransAlta Corp. of Canada in April abandoned a venture to trap emissions from an Alberta coal-fired plant on low prices.

      
 
 
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