Regulatory framework for geological storage of CO2 in Brazil – Analyses and proposal

Abstract

The lack of specific regulation for new technologies such as Carbon Dioxide Geological Storage (CGS) represents an obstacle in the fight against global warming and its consequences. Carbon dioxide is a greenhouse gas and a reduction in its concentration in the atmosphere through geological storage has been highlighted as an important initiative. As this is a little researched technology there is a lack of specific regulation to accompany its large scale usage. However, some developed countries have already structured their CGS regulatory framework. According to international studies one basic aspect in building a CGS regulatory structure lies in its correlation with natural gas and oil regulation. This article presents a regulatory framework Brazilian CGS proposal and suggests the creation of a new law on the subject and the development of its main regulatory mechanisms. The methodology used in this article is based on a review of literature and comparative analysis. A survey of the existing Brazilian legal framework on oil and gas was made. Focusing on the critical points of a Brazilian regulatory framework for CGS proposal this article identifies several technical, legal and structural aspects that must be present in the regulation.