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illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:
🗞️ Driving the news: Italian energy firms Eni and Snam have launched Italy's first carbon capture, transport, and storage (CCS) project to reduce CO2 emissions from heavy industries
• The project involves injecting captured CO2 into a depleted gas field near Ravenna, aiming to store approximately 25,000 metric tons of CO2 annually in its initial phase
🔭 The context: The Ravenna project, announced a year ago, uses renewable energy to capture CO2 emissions from Eni's natural gas treatment plant
• CO2 is transported via repurposed gas pipelines to an offshore platform and then stored at a depth of 3,000 meters in an old gas reservoir
• This initiative marks a significant step towards decarbonizing hard-to-electrify sectors like ceramics, glass, and steel
🌍 Why it matters for the planet: Carbon capture and storage is considered crucial for meeting global climate targets, as it mitigates emissions from industries that are difficult to decarbonize
• By significantly cutting CO2 emissions, this project supports Italy's transition to a low-carbon economy
⏭️ What's next: Eni and Snam plan to scale up the project, aiming to store up to 4 million tons of CO2 per year by 2030
• The Ravenna project aspires to become a major hub for decarbonization, attracting interest from other European energy-intensive industries
💬 One quote: “We are using our depleted fields, existing infrastructure, and technical expertise... to offer a very competitive service, which is receiving tremendous interest,” said Eni CEO Claudio Descalzi
📈 One stat: The project has already reduced CO2 emissions from Eni's plant chimney by over 90%, with peaks reaching 96%
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