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How to scale up carbon capture and storage
CARBON CLUSTERSย LINKED TO STORAGE (CCLSTR) - CLUSTER HUBS : MAKES SUCCESSFUL BUSINESS MODELย
Renewables alone are not enough, to combat climate change; need CCS with new innovative business models. CCS projects span beyond oil & gas value chain to other energy intensive industry (power, steel, cement, fertilizers etc.)
๐ฆ๐จ๐ ๐ ๐๐ฅ๐ฌ & ๐๐ก๐ฆ๐๐๐๐ง๐ฆ
Need to think beyond renewables; i.e. carbon avoidance and carbon removal. That means accelerating and upscaling of carbon capture and storage, starting now.
๐ฟ๐๐ผ๐๐ฝ๐ผ๐พ๐๐ ๐๐ ๐๐๐๐๐๐๐๐ ๐ฝ๐๐๐๐๐๐๐ ๐๐๐ฟ๐๐๐
Focus to date is on Regulations & Technology, but not on scaling up CCS or itsย business models:
1-CCS is across industries ( Capture, Transport & Storage), requires community solution by โeconomies of scale.โ
2-CCUS is Not โeconomies of scope,โ i.e. focus only on a speciality (ex: capture), which is the current industry trend & focus.
๐๐ผ๐๐ ๐๐ ๐๐๐พ๐พ๐๐๐ - ๐๐๐ ๐ฝ๐๐๐๐๐๐๐ ๐๐๐ฟ๐๐๐
1-Move to BASIN-WIDE solutions; sources & sinks (CCLSTR)
- Plants & processes can be pooled: - refineries, petrochemical, gas processing, LNG, power and metalsย refineries & smelters.
- The CO2ย is transported en masse to geological storage sites (depleted oilย or saline aquifers).
- Existing pipeline infrastructure connecting the point source to storage.
2-CCSLSTR can play a vital role in economies of scale
3-CCS LSTR/Hubs is a 3-step approach:
ย ย i) Basic Data: Science Driven - Technical & Data driven & skillsย
ย ย ii) Venture Shaping:ย Business Driven/Skill - Multiple Interfaces/coordinationย (complexity)
ย ย iii) Asset Development: Engineering & project management Driven/ Skills
๐๐ข๐ง๐ง๐ข๐ ๐๐๐ก๐ย
- Basin-wide carbon capture is the quintessential complex venture problem.
- Data to screen CCLSTR opportunities gives parties common ground to advance basin-wide CCS.ย
- Stakeholders can use the data on specific clusters and specific assets,
- Calculateย their emissions & mapย them to specific storage sites and right geological properties.
How to scale up carbon capture and storage
Industrialising a nascent technology thatโs critical for net zero targets
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