Unprecedented allocation of funds toward carbon capture and storage
The Norwegian Government has a goal of establishing carbon capture and storage (CCS) as an effective instrument against climate change. In the National Budget of 2010, the Norwegian Government proposes to allocate approximately NOK 3.4 billion towards CCS. This will be distributed to the projects at Mongstad and Kårstø, the transport and storage project, international work, as well as research and development of CCS technologies.
- Climate change is the greatest challenge of our time. We must therefore act now. We must increase our efforts in renewable energy, we must increase efficiency in energy usage, and we must succeed with carbon capture and storage. The Norwegian Government’s proposed allocation towards CCS in the 2010 National Budget is the largest ever. This is to ensure success in the development of CCS technology that can be used worldwide, and which may be crucial in the fight against climate change, says Minister of Petroleum and Energy, Terje Riis-Johansen.
For more information about funds towards carbon capture and storage.