SOURCE: Industrial Info Resources

September 29, 2009 05:02 ET

U.K. May Cut Carbon Storage Funding, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - September 29, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- There have been strong reactions in the United Kingdom about reports that the government may cut the level of funding for carbon capture and storage (CCS) projects because of economic pressures.

Treasury officials have reportedly told the government that it may have to scale down proposals for a multibillion euro investment in carbon storage projects in the current economic climate. The U.K. has proposed Europe's most ambitious CCS-implementation scheme to date, pledging funding for up to four large-scale CCS projects to be running by 2015. The country has also told energy companies that permission for new coal-fired plants will be refused unless CCS is part of the planning application.

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