IEA Greenhouse Gas R&D Programme

2nd Expert Meeting on Financing Carbon Capture and Storage Projects

Date: 28th-29th May 2008

New Yorker Hotel, New York, USA

New Yorker HotelPicture from the Hotel Web Site

Organised by IEA Greenhouse Gas R&D Programme, IEA Clean Coal Centre and World Coal Institute

ieaghg           IEA_CCCLogo          logoWCI

Sponsored by Chevron

Chevron

Background

The purpose of the meeting is to increase the involvement of experts from the financial sector and to discuss financial Instruments with industry and Government representatives to identify, encourage and develop world-wide collaboration and practical development of financial mechanisms to accelerate the use of CCS projects from R&D to commercial reality.

Key Meeting Objectives

  • Identifying key drivers on financing CCS projects in North America by the financial sector.
  • Contributing to building financial mechanisms for deployment of CCS projects.
  • Gaining access to financial information relevant for industry, insurance companies and Government investors in CCS projects.
  • Use of futures, derivatives and insurance markets to reduce financial risks of CCS deployment.
  • Improving the awareness of the status of CCS technology for the financial community.

Final Report

Draft Agenda

Day 1 Wednesday 28th May

Session 1: The Worldwide Status of CCS: Chair Preston Chiaro

09.00 - 09.15

Welcome by Barbara McKee, US DOE

09.15 - 09.35

Opening Address: The Status of CCS Internationally and Issues surrounding CCS Projects: Kelly Thambimuthu, Chairman of IEAGHG R&D Programme

09.35 - 09.55

WRI Perspectives on CCS: Jonathan Pershing, World Resource Institute

09.55 - 10.10

Question and Answer Chaired by Preston Chiaro

10.10 - 10.30 Break

Session 2: National and Regional Initiatives: Chair Barbara McKee

Questions to address: What is driving National Governments with CCS? Are there lessons to apply from Europe to North America and vice versa

10.30 - 10.50

The Role, Status and Financing of CCS as a Mitigation Option in teh United States: Tom Wilson, Senior Technical Leader, Electric Power Research Institute

10.50 - 11.10

Canadian Perspective on Financing CCS: Eric Beynon, ICO2N Group

11.10 - 11.30

The IOGCC Guidelines on Permitting CCS: Lawrence Bengal, IOGCC

11.30 - 11.50

CCS Projects in Europe and the Issue of Finance: Kai Tullius, Project Officer, European Commission

11.50 - 12.30

Panel Discussion by speakers and Chaired by Barbara McKee

12.30 - 14.00 Lunch Sponsored by Chevron

Session 3: Financial Industry and CCS Chair: Milton Catelin

Questions to Address: What financial options are available for CCS projects? Have any banks provided finance for CCS projects?

14.00 - 14.20

How Investors Look at CCS: Marc Levinson, JP Morgan Chase

14.20 - 14.40

Will Future Carbon Prices Make CCS a Viable Mitigation Option, and what are the Key Factors Going into Answering this Question?: Mark Trexler, Director, Ecosecurities Global Consulting Services.

14.40 - 15.00

A Trust Fund Approach for Accelerating the Demonstration and Adoption of CCS: Edward Rubin, Director, Center for Energy and Environmental Studies, Carnegie Mellon

15.00 - 15.20 Break

15.20 - 15.40

Treatment of CCS in Emissions Trading Schemes - Methodological Issues: Robert Sussman, Senior Fellow, Centre for American Progress

15.40 - 16.00

Financing CO2 Infrastructure: Paul Zakkour, Principal Consultant, ERM

16.30 - 17.20

Panel Discussion Chair Milton Catelin

17.20 - 17.30

CCS Regulatory Issues: Tom Kerr, IEA

17.30 Close of Day 1

Reception and Dinner Hosted by World Coal Institute

 

Day 2 Thursday 29th May

Session 4: Project Developers and CCS: Chair John Topper

Questions to address: What Financial Incentives do Project Developers Need to Accelerate CCS projects? How is the US Developing CCS Projects? What Lessons have been Learnt from CCS project Developing thus far?

08.30 - 08.50

 

Abu Dhabi and Carson and the Commercial Aspects of Making it Work and What is Needed from Governments: Preston Chiaro, Chief Executive, Rio Tinto Energy and Chairman of WCI

08.50 - 09.10

Challenges for Early Movers - The ZeroGen Experience: Anthony Tarr, CEO, ZeroGen

09.10 - 09.30

AEP and CCS: Bruce Braine, AEP

09.30 - 09.50

Ongoing CO2 Capital and Transport Costs:Gary Loop, Senior VP and Chief OPerating Officer, Dakota Gas

09.50 - 10.20

Panel discussion by speakers Chair John Topper

10.20 - 10.40 Break

Session 5: Insurance and Liability Related to CCS Projects Chair Arthur Lee

Questions to address: Can the insurance industry provide risk options for CCS? What frameworks are currently being used to address liability risks?

10.40 - 10.55

Risk and Liability Overview: Terminology, CCS Uncertainty in Different Parts of the CCS Lifecycle, and Past Industry Experience. Chiara Trabucchi, Principal, Industrial Economics

10.55 - 11.10

Introduction of Panel:
Lindene Patton, Chief Climate Product Officer, Zurich Financial Services
Rick Hawkinberry, Senior Vice President, Willis Environmental Practice
Adrienne Atwell, Senior Vice President, Swiss Reinsurance America Corporation
Chiara Trabucchi, Principal, Industrial Economics

11.10 - 12.30

Panel Discussion of speakers: Chair Arthur Lee

12.30 - 14.00 Lunch sponsored by Chevron

Session 6: Investment in CCS Chair John Gale

Questions to address: What are green investors looking for and how does that fit with CCS?

14.00 - 14.20

Coal Technology Investment Developments and Issues Concerning CCS in Australia: Ross Willims, Chairman, Australian Coal Association Low Emissions Technologies Ltd (ACALET)

14.20 - 14.40

Preliminary Risk Rating Results: Coal-based Plants with CCS:
Andrew Paterson, ECONERGY

14.40 - 15.00

Investment in CCS: Mark Taylor, Associate, New Energy Finance

15.00 - 15.20 Break

15.30 - 16.15

Panel discussion by Speakers and all Chairs Chaired by Preston Chiaro

16.15 - 16.30

Wrap Up: Preston Chiaro

16.15 Close of Meeting

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