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G8’s 2020 CO2-Capture Target ‘Achievable,’ WorleyParsons Says

Jan. 18 (Bloomberg) -- The Group of Eight nations’ target to have 20 large-scale carbon capture and storage projects running by 2020 is “arguably achievable,” according to an executive at Australia’s biggest engineering company.

“Eleven projects will be operational by 2012-13, so the G8 goal is largely achievable,” Peter Brooks, executive director at Sydney-based WorleyParsons Ltd. Energy Services, said today at a conference in Abu Dhabi.

Only 85 out of 243 projects globally are large-scale, integrated projects, meaning that they capture and store more than 1 million tons of carbon dioxide a year, Brooks said. Of these, only eight are operational, and three are in the “execute stage,” he said. The remaining 74 are in various stages of development, he said.

To meet the International Energy Agency’s recommendation 100 large projects would need to be running by 2020, he said.

To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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