Energy: Carbon Capture and Storage Debate

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Department: Wales Office

Energy: Carbon Capture and Storage

Baroness Featherstone Excerpts
Tuesday 2nd February 2016

(8 years, 9 months ago)

Lords Chamber
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Lord Bourne of Aberystwyth Portrait Lord Bourne of Aberystwyth
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My Lords, I agree with the noble Lord about the importance of CCS, but I disagree with him in relation to the cancellation of the project. As I have indicated, we are looking at other ways of advancing CSS, including an innovation budget, possibly a contract for difference and international co-operation. This is the right way forward with value for money.

Baroness Featherstone Portrait Baroness Featherstone (LD)
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My Lords, as the UN’s Intergovernmental Panel on Climate Change concluded, CCS is a hugely important part of tackling climate change, particularly with regard to cost-effectiveness. Without the crucial £1 billion investment in the cancelled CCS project—as the Government themselves phrased it just a year ago—how else are binding carbon targets to be met? I urge the Government to reconstitute the £1 billion pioneering project.

Lord Bourne of Aberystwyth Portrait Lord Bourne of Aberystwyth
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My Lords, the noble Baroness is wrong: it is not £1 million but £1 billion. This is the whole point. It is a massively expensive project. We have to look at value for money and at achieving the best ends for the best value. As I say, we recognise the importance of CCS. That is why we are carrying it forward in so many other ways.