Spanish Fears of Industrial Companies Leaving For Algeria
El Espanol newspaper published, here on Friday, a lengthy article in which it talked about Spanish fears of industrial companies leaving the country and heading to invest in Algeria, due to the issue of CO2 emissions.
In light of the decline in Spanish investments in combating gas emissions, compared to Germany, France, Norway and Britain, the Spanish CO2 technology platform (Pteco2) warned of the “danger” that Spain faces if it does not develop technologies for carbon capture, transport and storage, known as CCTS.
In a statement to the media, Pedro Mora, CEO of Pteco2, said, “Our industry will go to Algeria, where they do not have to bear the cost of trading rights for CO2 emissions from Europe, and in addition, they will not pay the CBAM (EU’s Carbon Border Adjustment Mechanism).”
In a European Union report, on sustainable carbon cycles, the goal is to capture between 300 and 500 million tons of carbon dioxide by 2050. The Net Zero Industry Act allows CCTS projects to undergo faster licencing procedures and benefit from national support to attract investment.
