Reducing CO2 emissions by making cheaper CO2 capture technologies available

Abstract The Royal Dutch Shell Group (Shell) was one of the first energy companies to acknowledge the threat of climate change - to call for action by governments; our industry and energy users; and to take action ourselves. Shell's strategy: to expand our alternative energies portfolio, while investing in advanced CO2 solutions in order to improve our ability to manage emissions from our hydrocarbon business. Measures to manage future emissions will include developing new technologies to capture and store CO2 underground. The pursuit of Carbon Capture and Storage (CCS) technologies allows Shell to play an important and leading role towards addressing the need for an increasing worldwide demand for energy, while at the same time dealing with the need to reduce global emissions. No single universal policy or technology will solve the CO2 challenge. Therefore, various CCS solutions will need to be considered within a portfolio of measures to reduce global CO2 emissions while assisting a transition towards a low-carbon energy future. Shell seeks to position itself as part of the solution to the climate change issue. The United Nations Intergovernmental Panel on Climate Change (IPCC) has identified CO2 capture and storage (CCS) as the most promising for the rapid reduction of global emissions - by up to 55% by 2100. As the bridge to a more sustainable energy system, it is therefore a key solution for combating climate change - among a portfolio of solutions, including renewable energies, energy efficiency and biofuels In order to achieve deeper reductions in CO2 emissions there will need to be new technologies brought to the market to enable a 'Kyoto 2' type-agreement. Authorities such as the International Energy Agency, the European Union Commission for Research and the US Department of Energy predict that new technologies will include hydrogen fuels cells, clean coal technology, and storage of CO2 below ground - in deep saline formations or redundant reservoirs, or for enhanced oil recovery. Considerable attention is being focused on CO2 storage with the desire to reduce the cost of capture and storage below 25 $/t CO2. Shell has a special team working on the CO2 Capture Project (CCP) Joint Industry Project. For the CCP Shell carries out studies, manages projects and the team is involved evaluating opportunities for deployment of the technologies within Shell. Shell also provides the Vice Chairman for this initiative and has several key-players working on this project. CCP is an international collaboration among industry, governments, academics and environmental interest groups focused on developing technology for CO2 capture and geological storage. The CO2 Capture Team (CCT) conducts Shell's participation in the CO2 Capture Project (CCP) and other external programs. CCT also works internally to apply external learnings and technologies within Shell businesses. Additionally, Shell's research and development funds and manages a separate CO2 storage program. Our goals are to:reduce the cost of capture by 60 to 80%, anddemonstrate that geological storage can be secure.