Register now for Absolutely free unrestricted access to Reuters.com
SHANGHAI, June 15 (Reuters) – Chinese state-owned oil and fuel company CNOOC Ltd (0883.HK) has done the country’s first offshore carbon capture and storage task designed to completely bury carbon dioxide in the seabed, state media noted on Wednesday.
The venture is located at the company’s Enping Oilfield in the mouth of the Pearl River, about 200 km (124 miles) from Shenzhen, and will keep CO2 emitted all through the oil extraction approach, condition broadcaster CCTV reported.
CNOOC commenced constructing the undertaking last September and mentioned it would finally sequester a complete of 1.46 million tonnes of CO2 in 800-metre deep seabed reservoirs.
Sign up now for Totally free limitless entry to Reuters.com
The stored carbon dioxide was the equivalent of planting 14 million trees or getting 1 million automobiles off the street, the firm explained.
Carbon capture, utilisation and storage (CCUS) lets emission-intensive industries like oil and gas, cement and ability to stop local weather-warming CO2 from entering the ambiance.
The International Vitality Company stated previous calendar year that services crafted about the environment now have the potential to retailer far more than 40 million tonnes of carbon dioxide every single 12 months.
China has determined CCUS as a important portion of attempts to grow to be carbon neutral by 2060, but although it has crafted many demonstration initiatives, the deployment of the technological innovation has so considerably been constrained.
According to an assessment report drawn up by the Ministry of Science and Engineering and other governing administration bodies before this year, the engineering and jogging expenses of CCUS stay much too significant and federal government assistance was nevertheless inadequate.
“The foreseeable future theoretical emission reduction probable of CCUS technologies is massive,” the report explained, “but because of to the technology’s degree of maturity and financial viability, that emission reduction opportunity is complicated to exploit.”
Offshore CCUS has by now been deployed in Norway and the United States, with captured CO2 equipped to builders to inject into oil fields to help raise recovery fees.
Sign-up now for No cost unlimited access to Reuters.com
Reporting by David Stanway editing by Uttaresh.V
Our Requirements: The Thomson Reuters Belief Ideas.