- News -
Published October 18, 2021
The total capacity of carbon capture and storage (CCS) projects in development increased by almost 50 per cent in 2021 compared to the previous year, according to a new report.
The climate report by Global CCS Institute shows this is the fourth year that the pipeline of projects has grown. As of September, 71 new CCS facilities were added to the project pipeline in 2021. This brings the CO2 capture capacity of all CCS facilities under development from 75 million tonnes per annum (Mtpa) to 111 Mtpa – a 48 per cent increase over 2020.
Of the 135 commercial CCS facilities in the project pipeline, 27 are fully operating, 4 are under construction, and 102 are under development.
In North America, 40 new CCS projects were announced in 2021. This was driven by CCS tax credits, the US decision to re-join the Paris Agreement and rising demand for low-carbon energy products.
Several new countries now have commercial CCS facilities under development, including Belgium, Denmark, Hungary, Indonesia, Italy, Malaysia, and Sweden.
A broad range of sectors have CCS projects in development: from power generation, LNG and waste-to-energy, to cement and steel manufacturing, to hydrogen production and direct air capture and storage projects.
CCS networks are becoming the dominant operating model, with multiple emissions sources sharing transport and storage infrastructure.
The International Energy Agency’s foresees 15% of carbon emissions reductions coming from CCS. This will require a one-hundred-fold increase in the capacity of operational facilities by 2050.
CEO of the Global CCS Institute, Jarad Daniels, said: “Although much more is required, we’re seeing growing interest and support for CCS. CCS will be integral to the decarbonisation of energy, industrial sectors such as cement, fertilisers, and chemicals, and will open new opportunities in areas including clean hydrogen and carbon dioxide removal.”