Seven energy firms to research, reduce greenhouse emissions

Seven global energy companies Thursday announced plans to jointly research and develop advanced carbon dioxide separation and geologic storage technology to reduce greenhouse gas emissions.


Seven global energy companies Thursday announced plans to jointly research and develop advanced carbon dioxide separation and geologic storage technology to reduce greenhouse gas emissions.

BP Amoco PLC, Chevron Corp., Norsk Hydro SA, Royal Dutch/Shell, Statoil AS, Suncor Energy Inc., and Texaco Inc. all said they would take part in the $20 million, 3 1/2-year carbon dioxide capture project. BP Amoco will serve as joint coordinator.

The partners aim to develop effective methods of capturing significant quantities of carbon dioxide emitted from power generation and industrial sources and storing the gas in geologic formations below the earth's surface. The project could lead to a notable reduction in greenhouse emissions across a wide range of industries, say the firms.

While each member company is actively working to manage its own greenhouse gas emissions through a portfolio of initiatives, "This project underscores our joint commitment to developing innovative ways to address the climate change issue," the partners said. "Pooling our technical and financial resources in this way will give the project added impetus."

Participation also will be sought from government agencies in North America and Europe.

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