European Commission Issues Landmark Decision Assigning CO₂ Storage Obligations to Oil and Gas Producers under NZIA
This marks a critical enforcement milestone in the EU’s effort to build out industrial carbon management infrastructure and ensure that fossil fuel producers contribute to long-term decarbonisation.
The European Commission yesterday published a long-awaited Decision that operationalises Article 23 of the Net-Zero Industry Act (NZIA), assigning individual CO₂ storage obligations to 44 oil and gas producers across the European Union (EU). These obligations are individual shares of the Commission’s target for developing 50 million tonnes of operational CO2 storage capacity by 2030.
This marks a critical enforcement milestone in the EU’s effort to build out industrial carbon management infrastructure and ensure that fossil fuel producers contribute to long-term decarbonisation.
“This is the moment we’ve been waiting for, the first real step toward holding fossil fuel producers accountable for delivering CO₂ storage.” said Codie Rossi, Europe Policy Manager for Carbon Capture at Clean Air Task Force. “The Commission’s Decision gives Article 23 real weight. But now the hard part begins: ensuring that every obligated company delivers credible plans, and that Member States provide the oversight, support and enabling environment needed to turn obligations into operational storage infrastructure.”
The Decision comes just months after CATF, Bellona Europa, and Carbon Balance Initiative launched a joint initiative to monitor compliance, promote transparency, and build political momentum around NZIA Article 23. The three NGOs will host an in-person event on 27 May, “From Obligation to Opportunity: Implementing the EU’s CO2 Storage Target,” to explore what the regulation means for developers, regulators, and the EU’s climate ambition.
Estimates of the consolidated storage obligation facing each major producer can be seen at CATF’s CO2 storage tracker, along with the storage capacity each company is currently developing.
This Week In Energy republishes their articles, features and stories online and/or in print under Creative Commons license CC BY-NC-ND 4.0.
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