Map of key low-CO2 emissions projects in the EU steel industry (eurofer.eu)
The above map shows examples of key low-CO2 projects that can help to achieve a substantial reduction of CO2 emissions in the EU steel industry. These projects (
currently 60, but numbers grow by the month) will almost all start before 2030 and have the potential of reducing CO2 emissions by 81.5 million tons per year by 2030. This is equivalent to a cut of more than 1/3 of direct and indirect CO2 emissions of the European steel industry in just eight years from now, in line with the EU climate targets.
This corresponds also to an increase of 100% of today’s electricity consumption of the EU steel industry. Currently, the EU steel industry consumes annually about 75 TWh of electricity, which are partly purchased from the external grid and partly self-generated through gas power plants using process gases of the steel industry as well as through top-gas recovery turbines.The steel sector is at highest risk of carbon leakage and the most impacted by unilateral climate policy among energy intensive industries[1]. In this context, ensuring a level playing field with third country competitors is essential for the transition to climate neutrality of this sector; the success of the above low-CO2 steel projects and their envisaged emissions reduction require a supportive legislative framework that effectively addresses carbon leakage both during and after their implementation.EUROFER will regularly update the projects map, taking into account ongoing developments."
Click on the green projects. Most of them are going down the DRI/EAF route. Now thats a lot of high grade magnetite, hydrogren and renewable electricity! The good news is not only does MGT have DRI grade feed that these Europeans need, BUT we might also have DR grade blast furnace feed as a product as Tim in his latest announcement said thet we will "also target the production of premium-grade DR products increasingly in demand by the decarbonising iron & steel sector" Happy Monday all!
(20min delay)