geological reservoirs, and it would appear that CCS projects initiated to date have indeed been selected by the use of appropriate tools and knowledge. All these sites have, however included an element of research and development and what is needed now are reliable recipes and protocols that can be used on a routine basis in order to qualify sites for geological storage and manage their operations.
This presentation will describe DNV's contribution to this process and perspectives on managing risks in the context of CO2 storage.
Currently DNV is developing guidelines on storage site qualification in partnership with the IEA greenhouse Gas R&D Programme (IEA GHG) and other industry partners. This work includes a number of case studies and aims to develop a generic framework for risk-based qualification of CO2 storage sites in order to deliver an internationally recognized recommended practice by mid 2009.
In the context of the European Emissions Trading Scheme (EU-ETS), appropriate management of storage sites will include monitoring, reporting and verification of avoided emissions. Here again DNV can offer a unique perspective from the standpoint of an independent, third party verification body with competence spanning the capture, transport and storage of CO2. What needs to be monitored? To what level of detail? And what will be required for the purposes of verification?
All of these questions are being addressed in the current DNV project portfolio that includes activities in EU projects such as CO2SINK and CO2REMOVE, as well as the South-West and West Carb regional partnerships in the US. Lessons from these projects will be shared during this presentation in order to contribute to the ongoing process of building consensus around robust and practical ways of assigning monetary value to avoided emissions.
