Norway plans to increase spending on carbon capture and storage (CCS) to NOK 670 million ($81 million) in 2019 from NOK 510 million in 2018, the country's national budget for 2019 showed.
According to the budget, the government also proposes to increase the funding for the world's largest facility for testing and improving CO2 capture, Technology Centre Mongstad.
'Both the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA) point to carbon capture and storage as a necessary measure to reduce global greenhouse gas emissions in line with the climate goals at the lowest possible costs. Therefore, the government has made CCS one of the prioritized areas for national climate action. In the national budget for 2019, the government proposes to increase the funding for this important work,' the Minister of Petroleum and Energy Kjell-Borge Freiberg said.
According to the minister, the government has to realize a cost-effective solution for full-scale CCS in Norway, provided this will result in technology development internationally.
The government proposes to increase funding to NOK 208 million in 2019 for the Technology Centre Mongstad, representing an increase of NOK 13 million compared to 2018 due to increased activity at the .
'The is a vital part of the government's work on CCS. Knowledge and experience from it also valuable for the planning of a new CCS project in Norway,' Freiberg said.
By Murat Temizer
Anadolu Agency
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