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Carbon capture, utilisation and storage: what you need to know
CCS has been there since 1970, so what's new?? What has changed??
KEY INSIGHTS
- CO2-EOR (Enhanced Oil Recovery) has effectively used since 1970 to improve recovery, but the the storage of CO2 to address climate change is new
- Current installed capacity of CCS project is around +60mtpa, but injection around 43 mtpa (operational capacity).
- The capacity is expected to grow about 1700 mtpa by 2050
- This increase is small in comparison to what is needed (5000 mtpa) to reach the climate target of 1.5 oC
Bottomline
To date, most CCUS projects have focused on emissions reduction in power generation or gas processing. But going forward, we expect CCUS to expand into other industries (this is a driving force behind the hub and cluster concept, whereby a central CCUS ‘hub’ will process emissions from a range of industrial plants clustered nearby). Cement and steel production — which have limited commercial alternatives to fossil fuel use — will probably lead the way, while the CCS component in the production of blue hydrogen could also be important.
Carbon capture, utilisation and storage: what you need to know
As a means of removing the carbon dioxide created by fossil fuel use, carbon capture, utilisation and storage (CCUS) will be integral to a smooth energy transition. But despite a growing number of CCUS projects in the pipeline, projected capacity is a mer
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