Poland’s new GeoCO2 consortium launches CCS research

Poland’s chief geologist Henryk Jacek Jezierski has taken part in the signing in Krakow of an agreement establishing the GeoCO2 Science and Industry Consortium. The ceremony took place at the city’s AGH University of Science and Technology.

The aim of the Consortium is to study the possible storage of CO2 in sandstone saline water bearing formations. A monitoring programme of such a storage is also to be examined.
The project results will enable CO2 emitters in the Polish energy sector to implement their individual CCS (carbon capture and storage) ready programmes. These results will be also helpful in the appraisal of the cost of future pilot and industrial-scale projects, it was noted. The Polish Ministry of the Environment intends to use these results for successful implementation of the EU Directive on the Geological Storage of Carbon Dioxide.
The consortium members include the AGH University of Science and Technology in Krakow, the Polish Geological Institute, National Research Institute, Messer Poland Ltd. and Drilling and Mining Enterprise Ltd. in Warsaw.(MoE/RK)

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ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

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