The NER300 scheme is able to provide a total of 300m European Union Allowances (EUAs), with a current market value of some €4.3bn ($5.6bn), to CCS projects in the EU. The scheme could pick successful applications by the end of this year, SBB understands. ArcelorMittal is also looking for French and German state backing and funding from the ULCOS programme itself.
The NER300 scheme is primarily targeted at the oil, gas and energy industries, as steelmaking emissions are not normally suitable for CCS. However, some new ironmaking technologies generate emissions which are suitable.
The TGR blast furnace could reduce greenhouse gas emissions by reusing waste gases. Any further emissions would then be suitable for CCS. ArcelorMittal is currently looking for a suitable storage site for captured carbon dioxide in northern France. The company expects the Florange pilot plant and another in Eisenhüttenstadt in Germany to yield results by 2013/2014.