In line with prior calls, Eurogas and the European Energy Retailers association welcome the Net Zero Industry Act’s acknowledgment of the CCS and CCU supply chain as net-zero technologies. This, together with the annual CO2 injection capacity target of 50 Mt by 2030, will serve as a positive signal for the industry, directly enabling the deployment of CCS at scale to help achieve our climate goals. We also wish to underscore the importance of adopting a whole CO2 value-chain approach, which will be crucial to prevent discouraging investments and avoid potential increases in costs.
Additionally, prior to the plenary vote, the industry would like to express its concerns regarding the decision taken by the ITRE Committee to impose a mandatory contribution to CO2 injection target in Article 18 to entities selling crude oil, petroleum products or natural gas in the Union. We believe that the recent European Parliament proposal modifying the obligated parties will place a significant administrative and financial burden onto operators and Member States, ultimately leading to impractical implementation and potential cost increases for consumers.
Read our joint statement here for more: [PDF]