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Tariq Siddiqui's picture
COO, Upstream EP Advisors LLC

Oil & Energy | Business Development | Capital Projects | Offshore Wind -  Proven leader in offshore development and operations, with 25+ years’ expertise in managing business through cycles...

  • Member since 2021
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  • Mar 28, 2022

CCS has been there since 1970, so what's new?? What has changed??



  • 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



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.


    Julian Silk's picture
    Julian Silk on Mar 28, 2022

    This is a nice summary.  Two things that might be added are that the 45Q tax credits in the U.S. require projects to be started before 2026 ( and that there are a variety of candidate technologies for carbon capture - amines and metal-organic-frameworks and many others ( 


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