NGI’s Hub & Flow
The Gulf Coast Is Leading the Race to Trap and Store Emissions from Natural Gas and Oil as Supermajors Bankroll Mega Projects
Oct 21, 2024
Graham Bain, an expert in carbon capture, utilization, and sequestration (CCUS), leads Enverus Intelligence Research's subsurface group focused on energy transition. He discusses the ambitious goal of capturing 500 million tons of carbon per year in the U.S., largely funded by supermajors like ExxonMobil and Chevron. Bain highlights the challenges of permitting and public opposition but underscores the Gulf Coast's advantages for these projects. He also examines the economic dynamics of CCUS, including the potential impacts of recent policy changes on carbon pricing.
30:20
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Quick takeaways
- The Gulf Coast's CCUS projects, funded by supermajors, could require a $73 billion investment amid significant permitting challenges and public opposition.
- While over 525 CCUS initiatives are identified, only about 20% may succeed due to infrastructure concerns and environmental risks for effective CO2 storage.
Deep dives
Overview of Carbon Capture Technologies
Carbon capture, utilization, and sequestration (CCUS) involves three primary components: capture, transportation, and sequestration. The capture process focuses on reducing carbon emissions from sources like natural gas processing, while transportation requires infrastructure, primarily pipelines, to move captured CO2 to storage sites. Approximately 5,000 miles of CO2 pipelines are currently operational in the United States. Sequestration involves storing CO2 underground at depths around a kilometer to maintain it in a liquid state, ensuring it occupies less volume and remains contained.
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