Oil Report

Enel to invest 400 mln euros in CO2 capture, seeks storage site

ROME, October 22 (Reuters) - Italy's Enel ENEI.MI is to invest around 400 mln euros in carbon capture and storage and is looking now for a suitable site to store CO2 underground, Gennaro de Michele, Enel head of research, told a coal industry event on Monday in Rome.

“Carbon capture and storage is the most important technology for the coal industry for the next many years,” De Michele told the Coaltrans annual industry conference, adding “It’s not only an idea to capture CO2, it’s already being done.”

Enel’s vision of coal’s future is one in which coal is used to produce power, to produce ash and gypsum as a by-product for cement, hydrogen as a by-product of coal gasification and CO2 which is stored underground.