{"id":51123,"date":"2024-09-12T14:18:57","date_gmt":"2024-09-12T13:18:57","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=51123"},"modified":"2024-09-12T14:18:57","modified_gmt":"2024-09-12T13:18:57","slug":"ccus-technologies-the-future-of-carbon-reduction","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/ccus-technologies-the-future-of-carbon-reduction\/51123\/","title":{"rendered":"CCUS technologies: The future of carbon reduction"},"content":{"rendered":"

Carbon capture, utilisation, and storage<\/a> (CCUS) technologies are key to global decarbonisation efforts.<\/h2>\n

By removing carbon dioxide (CO\u2082) from industrial emissions or the atmosphere, CCUS either stores the gas underground or repurposes it for industrial use.<\/p>\n

As net-zero emissions targets become more urgent, CCUS technologies are gaining momentum.<\/p>\n

A recent IDTechEx report<\/a> has highlighted how CCUS is evolving to meet growing market demands and technological advancements.<\/p>\n

Focus shifts from utilisation to storage<\/h3>\n

A significant shift is occurring within the CCUS industry. Policymakers and industry leaders are increasingly focusing on CO\u2082 storage rather than utilisation.<\/p>\n

Traditionally, around 75% of CCUS projects have relied on CO\u2082 utilisation, particularly through enhanced oil recovery (EOR), which increases oil extraction while storing CO\u2082 underground.<\/p>\n

However, projections show that by the end of this decade, dedicated geological storage will surpass EOR as the primary method for managing captured CO\u2082. By 2045, global CO\u2082 storage capacity is expected to reach 1.6 gigatonnes per year.<\/p>\n

CO\u2082 storage gains economic viability<\/h3>\n

The shift toward CO\u2082 storage is driven by evolving carbon markets and pricing mechanisms, which provide new financial incentives.<\/p>\n

Unlike utilisation, storing CO\u2082 underground doesn\u2019t create a direct product, but carbon pricing has made storage more economically viable.<\/p>\n

For example, systems like the EU\u2019s Emission Trading System (ETS)<\/a> impose costs on greenhouse gas emissions, encouraging companies to reduce their carbon footprints.<\/p>\n

As carbon pricing expands and prices rise, the cost of emitting CO\u2082 often exceeds the cost of capturing and storing it.<\/p>\n

In the US, the 45Q tax credit offers further incentives for large-scale CO\u2082 storage projects. Major oil and gas companies like Shell and Chevron are now investing in CO\u2082 storage facilities, leveraging their expertise in subsurface geology to develop projects in saline aquifers.<\/p>\n

Why CO\u2082 storage is crucial for climate goals<\/h3>\n

Permanently storing CO\u2082 offers greater sustainability benefits than utilisation, particularly when it comes to meeting climate targets.<\/p>\n

Stored CO\u2082 results in net-zero or even net-negative emissions, while utilisation often returns the gas to the atmosphere after short periods, such as when synthetic fuels made from CO\u2082 are burned.<\/p>\n

Moreover, global CO\u2082 storage capacity is enormous, estimated at over 15,000 gigatonnes\u2014far more than the world\u2019s current annual emissions of about 40 gigatonnes.<\/p>\n

This potential dwarfs the demand for CO\u2082 utilisation, making storage a more promising long-term solution for reducing emissions.<\/p>\n

The role of CO\u2082 utilisation<\/h3>\n

Despite the increasing emphasis on storage, CO\u2082 utilisation still plays a vital role, especially as a transitionary solution.<\/p>\n

Existing fossil fuel infrastructure won\u2019t disappear overnight, and certain sectors\u2014like aviation and shipping\u2014face challenges in adopting electrification. For these industries, low-carbon fuels made from captured CO\u2082, known as e-fuels, offer a decarbonisation path in the near term.<\/p>\n

In some applications, CO\u2082 can be permanently stored in products, such as concrete, through processes that chemically bind the CO\u2082.<\/p>\n

These applications may receive similar regulatory support as geological storage, with incentives provided under systems like the EU ETS. Such uses of CO\u2082 can also generate revenue, as the products, like concrete additives, can be sold commercially.<\/p>\n

Infrastructure challenges<\/h3>\n

A key hurdle for the widespread adoption of CCUS technologies is the lack of infrastructure for large-scale CO\u2082 storage.<\/p>\n

While significant projects like the Northern Lights Longship initiative are expected to be operational by 2024, many regions still lack the necessary pipelines and storage facilities to support extensive CCUS networks.<\/p>\n

In the interim, CO\u2082 utilisation offers a practical solution, allowing existing carbon capture technologies to be deployed while storage infrastructure is developed.<\/p>\n

As these projects come online, CCUS technologies will play a central role in helping industries and nations meet their emissions reduction goals.<\/p>\n

CCUS technologies are becoming essential in the global fight against climate change. While CO\u2082 utilisation remains important, the trend is shifting toward permanent storage, driven by carbon pricing, government incentives, and the vast potential of underground storage.<\/p>\n

As infrastructure expands, CCUS will be critical to achieving global decarbonisation targets and reducing atmospheric CO\u2082 levels.<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent IDTechEx report has highlighted how CCUS is evolving to meet growing market demands and technological advancements.<\/p>\n","protected":false},"author":15,"featured_media":51124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24433],"tags":[24536,24229],"acf":[],"yoast_head":"\nCCUS technologies: The future of carbon reduction<\/title>\n<meta name=\"description\" content=\"A recent IDTechEx report has highlighted how CCUS is evolving to meet growing market demands and technological advancements.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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