Declaration of Intent of the Government, Heavy Industry and Reykjavik Energy on the Capture and Sequestration of Carbon
Katrín Jakobsdóttir, Prime Minister, Guðmundur Ingi Guðbrandsson, Minister for the Environment and Natural Resources, Þórdís Kolbrún Reykfjörð Gylfadóttir, Minister for Tourism, Industry and Innovation, Lilja Dögg Alfreðsdóttir, Minister for Education, Science and Culture, and the Managing Directors/Representatives of Reykjavík Energy, Elkem, Alcoa Fjarðaál, Rio Tinto Iceland and Norðurál today signed a Declaration of Intent on carbon capture and sequestration. PCC BakkiSilicon is also a party to the Declaration, but will sign it later.
According to the Declaration of Intent, a full investigation will be conducted of whether the method known as “CarbFix” could become a realistic option, technologically and financially, to reduce the emission of carbon dioxide (CO2) from heavy industry in Iceland. The enterprises will also seek their own independent methods of achieving carbon neutrality by 2040.
Reykjavík Energy had been working on developing the “CarbFix” method in collaboration with the University of Iceland and foreign partners since 2007. The method consists in capturing CO2 from geothermal steam, dissolving it in water under pressure and injecting the water to a depth of 500-800 m in basalt strata, where the CO2 is permanently mineralised in the bedrock. ON Power, a subsidiary of Reykjavik Energy, has now been operating air purifying and injection facilities at the Hellisheiði Power Plant continuously for five years with good results.
Extensive co-operation is needed to address the climate problem, and co-operation between government and industry can have a significant impact, both here in Iceland and internationally. The Declaration of Intent is yet another step in that direction and in line with the points of focus set out in an agreement on a forum for co-operation between the government and industry on climate matters and green solutions, that was signed on 28 May 2019.
DECLARATION OF INTENT (PDF)
