Market News

 July 23, 2009
The next 'moon landing?' Norway plans deep-sea CO2 storage.

 Valeria Criscione, www.csmonitor.com

GLOBE-Net - Norway has been storing carbon in the North Sea since 1996.  Currently, Norway and the UK are studying the capabilities of the North Sea base as a viable storing ground for all of Europe’s carbon emissions.

The Utsira deep saline formation has been targeted as the best possible storage space, which has the estimated capacity to store up to 600 billion tonnes of carbon, which is equivalent to all the emissions from Europe’s power stations for the next 600 years.

The Norwegian Prime Minister, Jens Stoltenberg has addressed the importance of pursuing a workable carbon sequestering program, equating its success to that of the moon landing.

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For More Information: Christian Science Monitor