Global CO₂ storage resource exceeds need says Global CCS Institute
16 November 2016: Global carbon capture and storage resources exceed what is required to meet future climate change temperature targets, the Global CCS Institute told a major conference in Switzerland today.
Presenting at the 13th International Conference on Greenhouse Gas Control Technologies, Global CCS Institute Senior Storage Adviser, Dr Chris Consoli, said almost every high emitting nation of the world had substantial storage resources.
“A great deal of the world’s CO₂ storage resource has now been assessed. For example, the US Department of Energy (DOE) published an atlas last year that estimated between 2,000 and 20,000 billion tonnes of storage resource in North America alone.”
“The International Energy Agency (IEA) has predicted that approximately 90 billion tonnes of storage capacity is needed if carbon capture and storage (CCS) is to contribute its targeted 12 per cent of emissions reductions. In 2050, this equates to about 6 billion tonnes per year.
This means that the issue becomes one more about deployment than available resource.”
In addition to China, other countries which have been assessed and boast large storage resources are Canada, the United States, Norway, Australia, and the United Kingdom.
Speaking from the twenty second conference of the parties (COP 22) in Marrakech, Morocco, Global CCS Institute Chief Executive, Brad Page, said having the potential CO₂ storage resource available was a critical precondition to meeting Paris 2°C targets.
“Pleasingly, our latest review of global data demonstrates that there is vast storage potential when you compare storage resources with the IEA’s target.”
Mr Page says each country has undertaken each assessment differently. Although many nations had not conducted full assessments, and their storage potential was therefore yet to be fully determined, a large number of countries were showing impressive early signs of significant storage potential. This included countries like Indonesia, Brazil, and Mexico.
CCS is a safe and proven technology which has been utilised for more than 20 years as a specific greenhouse gas mitigation technology.
“This indicates that awareness, investment and policy commitment are essential ingredients in the adoption of CCS.
“There are 15 large-scale CCS facilities now operating globally (with a CO2 capture capacity of nearly 30 million tonnes per annum) and a further six anticipated to come on-stream in the next 12 months (three of which, located in the US, possibly before the end of 2016 or in early 2017). These 21 facilities have a total CO2 capture capacity of approximately 40 million tonnes per annum.”
Mr Page said the technology is already available to select, characterise, safely operate, complete and close storage projects. Secure CO2 geological storage at various scales has already been demonstrated at a number of successful projects across the globe. Various assessments suggest that storage resources to support CCS development are significant and in excess of projected capacity requirements over the coming decades.
“What is needed is government commitment, investment and incentivisation, and the need to achieve policy parity across the board.”
With climate change discussions underway at COP 22, CCS issues are taking on a heightened intensity.
For media enquiries, contact:
Antonios Papaspiropoulos, +61 401 944 478, Antonios.Papaspiropoulos@globalccsinstitute.com
Jake Lynn, +202 895 2793, Jake.Lynn@globalccsinstitute.com
Jelena Susa +61 413 269 410, Jelena.Susa@globalccsinstitute.com
About the Global CCS Institute The Global CCS Institute is an international membership organisation. Our mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security.
Working with and on behalf of our Members, we drive the adoption of CCS as quickly and cost effectively as possible by sharing expertise, building capacity and providing advice and support so that this this vital technology can play its part in reducing greenhouse gas emissions.
Our diverse international membership consists of governments, global corporations, small companies, research bodies and nongovernment organisations, committed to CCS as an integral part of a low-carbon future. We are headquartered in Melbourne, Australia with regional offices in Washington DC, Brussels, Beijing and Tokyo. For more information, visit www.globalccsinstitute.com