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CCS Extends Its Reach Beyond Oil and Gas

Nov 8, 2023

Explore the increasing adoption of carbon capture and storage (CCS) technology in various sectors and industries. Learn about the different applications and emerging innovative solutions for CCS. Discover the challenges of transportation and storage of captured carbon dioxide and the need for advanced monitoring technologies. Examine the role of CCS in achieving net zero emissions and the importance of policy interventions for its global implementation.

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Quick takeaways

CCS is experiencing significant growth in investment as key industries utilize the technology to reduce emissions in hard-to-abate sectors.

Transportation and storage infrastructure pose challenges for the scalability of CCS, limiting its potential impact on carbon reduction.

Deep dives

Carbon capture and storage experiencing rapid growth

Carbon capture and storage (CCS) has seen significant growth as investment in the technology has more than doubled year on year. The total capacity of CCS projects under development has increased by 44%, reaching 244 million tons per annum. Key industries such as oil, gas, cement, and hydrogen are driving this growth, utilizing CCS to reduce emissions. CCS is becoming a preferred carbon abatement strategy, especially in hard-to-abate sectors. However, there are challenges in terms of infrastructure, transportation, and storage, which could limit scalability.

Introduction

2min

Carbon Capture and Storage Technology

17min

CO2 Capture Costs and Technological Advancements

4min

Transportation and Storage Challenges in Carbon Capture

6min

Carbon Capture: Bridging the Gap and Policy Interventions

9min

Thanking Guest Speakers, Investment Disclaimer, Razor and Car Ads, and Orlando's Innovation

3min

Investment in carbon capture and storage is skyrocketing. Last year, the technology attracted some $6.4 billion globally, more than double the year before. But why are industries now looking to Carbon Capture and Storage (CCS) to cut down on their carbon emissions, rather than other, better-established methods?

On today’s show, Dana sits down with Allen Tom Abraham and Anastasia Tomasidou from BNEF’s Sustainable Materials team. Together, they take a look at the various sectors that are utilizing CCS technology, methods of carbon capture and storage and potential bottlenecks in the existing system, and the role that policy plays in the expansion of CCS across the globe.

Today’s episode draws from the BNEF research note CCUS Market Outlook 2023.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

CCUS Market Outlook 2023 - https://www.bnef.com/insights/32621

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