Carbon capture, utilization and storage (CCUS) technologies are set to play an important role in putting the global energy system on a path to net zero. Successfully deploying CCUS relies on the establishment of legal and regulatory frameworks to ensure the effective stewardship of CCUS projects (business development & planning) + activities (execution) and the safe and secure storage of CO2.

Several countries have already developed comprehensive legal and regulatory frameworks for CCUS and others are working on draft regulations. The former provides a valuable knowledge base for the countries that still have to establish a legal foundation for CCUS. Furthermore, existing frameworks are also being tested as more commercial CCUS projects are developed, with important learnings for regulators.

Policy-driven CCUS deployment will enable projects to get started in many countries and grow the few dozen carbon capture facilities operating today into a true industry supporting country,
regional and global decarbonization targets. Climate Finance and Just Energy Transition are key themes of the COP agenda and there is a strong drive for international working groups to share key learnings and accelerate deployment of CCUS. Smaller countries seeking financing are encouraged to form closer collaborative working partnerships with countries such as Norway, the United States, UK, Canada and Australia, including joint working on policy
incentivization and regulation, innovation and carbon dioxide transport and storage solutions.

The focus of the session will be on highlighting recent developments in CCS regulation like the review of the EU Directive guidance documents, the establishment of standards in the Netherland for the seismic and geomechanical containment component of the Storage Licence Applications as well as updates to the ISO TC 265 as well as SPE SRMS. Not forgetting to focus on Operator´s requirements and new drafts regulations in progress.