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DNV wants to regulate carbon trade

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Published: July 9, 2007 at 1:46 PM
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HOVIK, Norway, July 9 (UPI) -- Det Norske Veritas, the Norwegian standards agency, announced it wants to set international standards for carbon capture and storage.

The agency would regulate the capture, transmission and storage of carbon dioxide in the oil and gas industry. DNV is setting out to develop "proper standards and best practices for capture, transmission and storage of carbon dioxide, as well as adequate qualification procedures do not currently exist in the oil and gas industry."

Three projects being set up by DNV will look at how to store carbon dioxide in sub-seabed formations safely, how to qualify carbon dioxide storage projects and technology and what should be the industrial standard for transmission of carbon dioxide in pipelines.

The first project has already begun with Aker Kvaerner, Statoil, Norsk Hydro, and Statkraft. Participants are still being sought for the other two projects.

"There are obstacles that need to be dealt with regarding carbon capture and storage. These are related to the regulatory, legal, economical and technological risks involved in developing and operating a carbon capture and storage system," said Hans Bratfos, head of DNV's Cleaner Energy Department.

"By facilitating these projects on capture, transmission and storage of carbon dioxide, DNV is contributing to the removal of several important barriers in order to realize the full vision of carbon capture and storage," Bratfos said.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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