Romania cannot be isolated from global trends and must take advantage of the opportunities offered by new technologies. Therefore, we offer here useful resources to understand the CCS process, while explaining the economic and environmental benefits of this decarbonization solution.
We invite you to discover them!
Through continuous innovation, the oil and gas industry is engaging in global efforts to reduce carbon emissions. And one of the solutions to invest in is carbon capture and storage (CCS) - a climate technology that prevents the release of large amounts of carbon dioxide (CO2) into the atmosphere.
In this video we explain what CCS technology entails, why this process has a key role for the decarbonization of Europe finishing with an important message for Romania.
Romania must capitalize in an intelligent manner on all the opportunities offered by the Black Sea for economic development. And one of the vectors for the future, without which we can no longer imagine the energy system in the coming decades, is carbon capture and storage (CCS).
Even after the depletion of hydrocarbon resources, Romania can use offshore deposits to become an important player in the development of a key decarbonization technology: CCS.
Carbon capture and storage (CCS) is a proven and globally available climate technology
that will be widely developed in the coming decades. Romania - with a rich history in the oil and gas industry - can become an important regional player in this sector, thanks to the many depleted deposits. They can now receive a "new life" and can be reused to reduce carbon emissions.
FPPG explains the main steps in the CCS process, which contributes to a cleaner environment.
Beyond the environmental benefits offered by generating negative emissions, carbon capture and storage (CCS) technology can play a vital role in maintaining the competitiveness and productivity of Romanian industry, especially in energy-intensive and difficult to decarbonate sectors.
In addition to maintaining existing jobs in these industries, CCS technology also offers the potential to create new, highly skilled, direct and indirect jobs along the CCS value chain.
In the following infographic, we present the socio-economic benefits of such an investment.
Carbon capture, utilization and storage (CCUS) technology can play a key role in achieving carbon neutrality, in addition to maintaining the productivity and competitiveness of Romanian industry, especially in energy-intensive and hard to decarbonize sectors.
All aspects addressed in this document are essential for the successful implementation of CCUS initiatives in Romania.
The risks associated with climate change for economies are real and imminent, as no country today is immune to the impact of climate change.
Part of the solution to reducing the concentration of carbon dioxide (CO2) in the atmosphere is to capture these emissions from industrial processes and fuel combustion and store them underground - a process known as CO2 geological capture and storage (CCS).
Therefore, the strategic importance of CCS in a future with net-zero emissions is clear. este clară.
But what is the development potential of this technology in Romania? A study conducted for the Oil and Gas Employers' Federation (FPPG) by a consortium of consulting firm Pricewaterhouse Coopers (PwC) and the think tank Energy Policy Group (EPG) provides answers.
Among the main elements of the study are:
We invite you to read the full study for a more complex perspective on this technology.
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