CO2 Storage Liabilities in the North Sea - An Assessment of Risks and Financial Consequences – Summary Report for DECC May 2012
Report commissioned by DECC to provide a basis for understanding the technical risks and financial consequences of CO2 leaking from a geological storage site.
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The summary report was commissioned by DECC to provide a basis for understanding the technical risks and financial consequences of CO2 leaking from a geological storage site. The main focus of the report was to better understand the probability and scale of contingent liabilities that arise during storage.
The report developed estimates of the probability and rates of leakage for each of the most likely leakage pathways, namely those related to engineered structures which penetrate the storage site (operating and abandoned wells) and those associated with the geological features of the storage site (the integrity of the caprock and faulting).
The report identifies the risk of experiencing a leak over the anticipated lifetime of a storage site is considered to be very low and the magnitude of any associated CO2 loss is estimated to be low and manageable through existing and proven corrective measures. The overall financial consequences of leakage are therefore considered to be both definable and manageable.