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DATE OF REPORT: March 15, 2009
JURISDICTION: European Union - European Commission
TYPE OF INCENTIVE: 2.c.i. Transfer of Long-Term Liability
CITATION: EC CCS Directive
STATUS: Approved
TIME FRAME Start: December 2008
TIME FRAME End:
DESCRIPTION:
A storage site shall be transferred to the state when it meets the following four conditions: All available evidence indicates that the CO2 will be completely contained for the indefinite future; A minimum period before transfer to be determined by the competent authority has elapsed; A financial contribution for the post-transfer period covering at least half the costs for monitoring for 30-years has been made; and The site has been sealed and the injection facilities have been removed.
EXPERIENCE:  
LINKS AND CONTACTS: http://ec.europa.eu/environment/climat/ccs/eccp1_en.htm