Spain's cabinet Friday has approved a law proposal to regulate carbon dioxide storage in the country, the industry and the environment ministries said in a joint statement.
Spain 's cabinet Friday has approved a law proposal to regulate carbon dioxide storage in the country, the industry and the environment ministries said in a joint statement.

The law stipulates that carbon storage facilities and pipeline transportation networks need to have environmental impact studies approved to be granted a license to operate. The legislation now needs to be approved by Spain 's parliament.

Also Friday, Ignacio Galan, Chairman of Spanish utility Iberdrola SA (IBE.MC), said the company wants to become a global leader in CO2 capture and storage technology for thermoelectric power plants.

Galan, who was quoted in a release as speaking during the Copenhagen climate change summit, said the energy sector is responsible for 26% of global greenhouse gas emissions.

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