Overview

As governments around the world look at various solutions to ensure low carbon growth, the development of commercially viable Carbon Capture and Storage (CCS) has become a pressing concern for many.

Whether due to the low carbon price or a lack of immediate start-up funding, it is taking much longer than many potential investors and developers had hoped for to demonstrate that CCS works as a technology and delivers the necessary returns.

But what is the current state of play? In Europe, whilst there are several projects demonstrating elements of the CCS chain in the development phase, there is still much to be done on the regulatory side in order for CCS to realise its potential. In this article, Allen & Overy discusses where we are with CCS in the UK and Europe and look at the available financing mechanisms and the regulatory challenges which exist in relation to CCS development.

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