CCUS definition
Examples of CCUS in a sentence
The decision prompted the setting up of technologically neutral and market-based funds (the CCUS funds) of DKK 16 billion, which are scheduled for de- ployment between 2024-2048.
However, the Deliverables which is not the Knowledge Sharing Plan nor the Knowledge Sharing Summary Report shall only be used by such third parties in connection with the Contract and related projects, including the DEA’s other CCS or CCUS projects.
Alternatives to electrification include hydrogen, biofuels, industrial Carbon Capture, Use and Storage (CCUS) and bioenergy with CCUS.
The CCUS fund is to be deployed in two phases, the first phase with the purpose of deployment of a maximum of DKK 8.168 billion including VAT for the purpose of capture and permanent storage of CO2.
Procedure The GGR Agreement is likely to follow the dispute resolution procedure detailed in the AR5 CfD and the CCUS Programme Contracts, with disputes escalated to a meeting of senior representatives followed by final resolution by expert determination or arbitration.
The GGR Agreement will follow the proposed supply chain reporting requirements in the CCUS Programme Contracts.
Unavailability10 The GGR Agreement will follow the CCUS Programme Contracts by including a GGR Counterparty termination right in the event that a T&S Prolonged Unavailability Event (see below) prevents the relevant Facility from exporting its CO₂ to the T&S Network for a prolonged period of time [to be determined].
As with the AR5 CfD and other CCUS Programme Contracts, such protection will not apply where the relevant event is caused by the Developer's fault or negligence, or where the relevant event occurred before the Agreement Date.
This reflects: (i) a balance between providing price support certainty for Developers for a proportionate and reasonable period, whilst ensuring policy is flexible to technological innovation; (ii) the potential time for the negative emissions market to develop; and (iii) the general precedents set by the AR5 CfD and the CCUS Programme Contracts.
The GGR Agreement may adopt the amendments made to the AR5 CfD provisions in the CCUS Programme Contracts to reflect particular carve- outs to the no cumulation of subsidy position, provided that support is not given for the same Project costs.