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illuminem summarizes for you the essential news of the day. Read the full piece on DeSmog or enjoy below:
🗞️ Driving the news: Equinor has retracted its claim of capturing 1 million tonnes of CO2 annually at its Sleipner carbon capture project after data revealed the actual figure for 2023 was just 106,000 tonnes
• The discrepancy arose from outdated claims on its website and ongoing underperformance due to declining gas production and equipment issues
• Critics argue this highlights exaggerated industry claims about carbon capture's role in combating climate change
🔭 The context: Launched in 1996, Sleipner was one of the first large-scale CCS projects and has been a key example cited by CCS advocates
• Despite over 25 million tonnes of CO2 stored since inception, its recent performance falls far short of its capacity, exacerbating concerns about CCS’s effectiveness in mitigating emissions
• Meanwhile, Equinor’s total CO2 emissions from operations and product use in 2023 reached 262 million tonnes
🌍 Why it matters for the planet: Equinor’s underperformance underscores doubts about CCS as a reliable climate solution
• While CCS is promoted as vital for meeting global climate goals, its limited capacity relative to emissions from fossil fuels raises concerns about its feasibility without substantial reduction in oil and gas production
⏭️ What's next: Equinor plans to expand CCS operations with government-subsidized projects like the Northern Lights facility, aiming to store up to 50 million tonnes annually by 2035
• However, these plans depend heavily on public funding while the company continues to prioritize fossil fuel extraction over renewable energy investments
💬 One quote: “Equinor uses ‘ambitious’ CCS targets as a way of simulating action without actually performing it,” - Oslo-based climate consultant Ketan Joshi
📈 One stat: In 2023, Equinor captured 0.8 million tonnes of CO2 across all CCS projects—over 300 times less than the emissions from burning its fossil fuel products
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