Chinese state-owned oil and gas firm CNOOC has completed the country's first offshore carbon capture and storage project designed to permanently bury carbon dioxide in the seabed
A security officer keeps watch outside the headquarters of China National Offshore Oil Corp , China's top offshore oil producer, in Beijing February 19, 2008. REUTERS/Claro Cortes IVhas completed the country's first offshore carbon capture and storage project designed to permanently bury carbon dioxide in the seabed, state media reported on Wednesday.
CNOOC began constructing the project last September and said it would eventually sequester a total of 1.46 million tonnes of CO2 in 800-metre deep seabed reservoirs.The stored carbon dioxide was the equivalent of planting 14 million trees or taking 1 million cars off the road, the company said. The International Energy Agency said last year that facilities built around the world now have the capacity to store more than 40 million tonnes of carbon dioxide every year.
According to an assessment report drawn up by the Ministry of Science and Technology and other government bodies earlier this year, the engineering and running costs of CCUS remain too high and government support was still insufficient.
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