Media Releases

Press Room

Media Releases

Filter by

[ Clear Filtering ]

The Global CCS Institute to Support Oman’s Work Programme to Scale up CCS Climate Technology
The Global CCS Institute to Support Oman’s Work Programme to Scale up CCS Climate Technology

5th December 2023

Dubai, United Arab Emirates – In an effort to reduce emissions and drive industrial decarbonisation in Oman, the Government of Oman’s Ministry of Energy and Minerals (MEM) launched its CCUS and Blue Hydrogen Framework of which Petroleum Development of Oman (PDO) is a pivotal member. PDO, fulfilling its obligations, has partnered with the Global CCS Institute to support the development of a policy, legal and regulatory guidance that will support the deployment of carbon capture and storage (CCS) technology in the country.

As part of a CCS Work Programme, the Global CCS Institute – a leading international think tank with a commitment to support the deployment of carbon capture and storage – will lend its expertise to develop policy and regulatory guidance tied to CO2 capture and storage opportunities. Announced at COP 28 in Dubai, UAE, the Work Programme aims to make way for the development of CCS demonstration efforts and commercial-scale CCS projects in Oman.

“Last year, the Government of Oman announced that the country would reach net zero by 2050”, said Dr. Firas Al Abduwani, Director General of renewable energy and hydrogen at MEM. “To achieve this target, we are keen to develop the right policy frameworks and tools needed to deploy key emission reduction solutions, including carbon capture and storage. By working with experts at the forefront of CCS, this Work Programme will allow us to do just that”, added Dr. Firas Al Abduwani.

Today, there are over 390 carbon capture and storage facilities in various stages of development around the world. Although that number is on the rise, CCS projects will need to increase by 100-fold for international climate targets to be reached by 2050.

“The Institute is committed to providing the insights needed to ensure countries with carbon intensive industries have the capability to decarbonise though CCS, and Oman is no exception”, said Mr Jarad Daniels, CEO of the Global CCS Institute. “The initiative taken by the Ministry of Energy and Minerals, alongside the team at PDO, is incredibly promising. We look forward to being part of this Work Programme and seeing CCS being built into Oman’s climate action plans”, added Mr Daniels.

The Work Programme will engage local stakeholders through regular meetings and workshops as production of the guidance document gets underway. The Work Programme is set to conclude in June 2024.

Pictured from left to right: Jarad Daniels, CEO of the Global CCS Institute, Firas Al Abduwani, Director General of Renewable Energy and Hydrogen at Oman’s Ministry of Energy and Minerals, Steve Phimister, Managing Director of Petroleum Development Oman

###

About

The Ministry of Energy and Minerals (MEM) is the governmental body in the Sultanate of Oman responsible for developing and implementing the government policy for developing the oil, gas, alternative energy and minerals resources in Oman. For more information, visit www.mem.gov.om

Petroleum Development Oman (PDO) is the leading exploration and production company in the Sultanate of Oman. We deliver the majority of the country's crude oil production and natural gas supply, but above all we focus on delivering excellence, growth and sustainable value creation within and well beyond our industry. Gas fields and processing plants are operated by PDO exclusively on behalf of the Government. For more information, visit www.pdo.co.om

The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. Alongside its Members, the Institute drives the adoption of CCS as quickly and cost effectively as possible by sharing expertise, building capacity and providing advice and support so that this vital technology can play its part in reducing greenhouse gas emissions. For more information, visit www.globalccsinstitute.com.

 

Media Contact

Ruth Gebremedhin | Global CCS Institute

Ruth.gebremedhin@globalccsinstitute.com |+44(0)7950278261

 

 

Increasing Momentum for Carbon Capture and Storage Brings Global Decarbonization Goals One Step Closer
Increasing Momentum for Carbon Capture and Storage Brings Global Decarbonization Goals One Step Closer
New analysis from the Global CCS Institute finds that there are now 41 commercial-scale CCS projects in operation and 351 projects in development worldwide. A promising trend amid the need for a massive scale-up.

10th November 2023

Carbon capture and storage (CCS) has seen another year of expansive growth, according to research from the international think-tank the Global CCS Institute. The 2023 Global Status of CCS Reportreleased today, shows a significant surge in CCS projects across the globe with 198 new facilities added to the project pipeline this past year – a 102% increase. This is good news for climate action as world-leading climate and energy analysts agree that CCS is needed to meet global emission reduction goals.

In terms of both facility numbers and carbon dioxide (CO2) capture capacity, the project pipeline for CCS is at an all-time high. The 41 CCS projects in operation now have an annual CO2 capture capacity of 49 million tonnes per annum (Mtpa). Meanwhile, the total project pipeline capacity has expanded to 361 Mtpa of CO2, a 50% increase from 2022 – the highest jump since 2018.

The Global CCS Institute's CEO, Jarad Daniels remarked on this progress saying: "The climate math is clear, carbon capture and storage (CCS) is an essential climate mitigation technology, without which it would be virtually impossible to achieve net-zero emission targets. However, the math also indicates that this past year's impressive step-up still has us near the bottom of the staircase, so to speak, and that CCS must reach gigatonne per annum (Gtpa) scale in order to reach our emission goals."

Indeed, authoritative analysis by the Intergovernmental Panel on Climate Change, the International Energy Agency, and others, consistently indicates that achieving global climate targets will require annual CO2 storage rates of approximately 1 Gtpa by 2030 and multiple Gtpa by 2050.

"Policy makers, industry leaders, investors and the general public, are all feeling a growing urgency to address climate change, and that is accelerating many forms of mitigation, including CCS deployment, in leading regions around the globe. However, to meet our climate change mitigation targets global investment in CCS deployment this decade must grow even faster," said Mr. Daniels.

Other key takeaways from the Global Status of CCS 2023 report include:

  • As of 31 July 2023, there are 41 commercial-scale CCS facilities in operation, 26 facilities in construction and 325 in various stages of development.
  • Between 2022 and 2023, 11 new countries registered CCS facilities in various stages of development.
  • The US still dominates CCS deployment, with 73 new facilities entering the pipeline in 2023. The UK, Canada and China increased their facility counts and remained in the top five CCS deployment countries. Australia now has 12 facilities in development.
  • CCS deployment through networks has become the dominant pathway as networks deliver both economies of scale that reduce cost and business model synergies that reduce risk. The ongoing development of CCS networks has resulted in a new industry category of "CO2 transport and storage" facilities in the Institute's dataset. In 2023, 101 of these facilities were identified globally.
  • CCS is also becoming a more prominent feature of public policy, from inclusion in 27 countries' Nationally Determined Contributions (NDCs) to the provision of targeted policy to drive deployment and the drafting of appropriate regulations.
  • CCS financing prospects have improved substantially in the past year in key jurisdictions due to increased policy support and other factors, including price signals, and there is every indication that the momentum will continue. This has precipitated a substantial increase in CCS investment, mostly in equity funding.

###

Media Contacts 

US / North America

Jessica Oglesby

Jessica.oglesby@globalccsinstitute.com

 

Europe / MENA 

Ruth Gebremedhin

ruth.gebremedhin@globalccsinstitute.com

07950278261

 

Asia Pacific

Honor Iosif

honor.iosif@globalccsinstitute.com

The Government of the Kingdom of Saudi Arabia Joins the Global CCS Institute
The Government of the Kingdom of Saudi Arabia Joins the Global CCS Institute
Saudi Arabia Becomes a Member of a CCS-focused Think Tank to Further Drive Climate Targets

11th October 2023

Saudi Arabia Becomes a Member of a CCS-focused Think Tank to Further Drive Climate Targets

RIYADH, Saudi Arabia – The Global CCS Institute is pleased to welcome the government of the Kingdom of Saudi Arabia (KSA), represented by the Ministry of Energy, as the latest member to join the Institute. As a member of an international think tank focused on scaling up carbon capture and storage technology (CCS), Saudi Arabia reaffirms its commitment to tackling the climate challenge through collaboration, innovation and the adoption of proven technologies.

With a target to reach net zero by 2060, Saudi Arabia has a diverse portfolio aimed at reducing carbon emissions, including through the use of CCS. The Global CCS Institute is keen to work with the Saudi Arabian government to provide expertise to drive the accelerated deployment of CCS technology.

The membership signing ceremony took place during MENA Climate Week 2023, held in Riyadh. “Saudi Arabia is putting plans in place to develop large-scale projects that will have the capacity to capture and store millions of tonnes of CO2 from industry, subsequently being poised to be a CCS leader in the Middle East and North Africa (MENA) region”, said Mr Jarad Daniels, CEO of the Global CCS Institute. “As the country shifts from CCS ambition to CCS action, we look forward to being an active part of that journey”, added Mr. Jarad Daniels.

The Global CCS Institute’s diverse membership is over 200 strong, spanning 33 countries, including 13 government members. Saudi Arabia’s Ministry of Energy, which is leading the government’s carbon capture and storage efforts, will work closely with the Institute on CCS capacity building.

“CCS is a needed technology that will drive a low-emission transition across hard-to-abate industries”, said HRH Prince Abdulaziz bin Salman. “In 2022, Saudi Arabia announced plans to develop one of the largest CCS hubs in the world, where 44 million tonnes of CO2 will be mitigated annually through CCS efforts in the Jubail by 2035. Getting ambitions climate projects off the ground will require partnerships and region-specific expertise and knowledge, and being a member of the Global CCS Institute will enhance that further”, added, HRH Prince Abdulaziz bin Salman.

Although there are over 250 CCS facilities in various stage globally, that number will need to increase by 100-fold for international climate targets to be reached by mid-century. Saudi Arabia’s geological storage capacity makes the country an excellent candidate for CCS deployment and industrial decarbonisation efforts.

 

Attending the signing ceremony during MENA Climate Week, from left to right: Dr. Mohammad Abu Zahra, the Institute's Head of MENA Region, CEO of the Institute, Jarad Daniels, Khalid Abuleif, Chief Negotiator for the Climate Agreements at the KSA's Ministry of Petroleum and Mineral Resources, Faisal Al Musa, Director General at the KSA's Ministry of Energy, and Faisal Al Qurooni, CCE Manager at the Ministry of Energy

###

About

The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. Alongside its Members, the Institute drives the adoption of CCS as quickly and cost effectively as possible by sharing expertise, building capacity and providing advice and support so that this vital technology can play its part in reducing greenhouse gas emissions. For more information, visit www.globalccsinstitute.com.

The Ministry of Energy oversees the activities of the sector through policy creation, regulation, and enablement. That includes a hydrocarbon strategy covering upstream and downstream activities (oil, gas, refining, and petrochemicals), electricity (conventional and renewables), and new vectors such as clean hydrogen and carbon management. The Ministry is responsible for developing these strategies and following up on their implementation, developing supporting policies for the energy sectors, and supporting decisionmakers through conducting studies on various strategies and policies. https://www.moenergy.gov.sa

 

Media Contacts

Global CCS Institute:

UAE: Mohammad Abu Zahra - mohammad.abuzahra@globalccsinstitute.com;  +971(0)45230880

UK and Europe: Ruth Gebremedhin – ruth.gebremedhin@globalccsinstitute.com; +44(0)7950278261

Kingdom of Saudi Arabia, Ministry of Energy:

Kingdom of Saudi Arabia: Sarah M. Mojadidi - Sarah.Mojadidi@moenergy.gov.sa, +966112232689

 

 

 

 

 

The Global CCS Institute Welcomes the UK Government’s Decision to Support both Viking and Acorn CCUS Cluster Projects
The Global CCS Institute Welcomes the UK Government’s Decision to Support both Viking and Acorn CCUS Cluster Projects

1st August 2023

The Global CCS Institute welcomes the UK government’s decision to fund two additional carbon capture, usage and storage (CCUS) cluster projects to further support the UK’s climate targets.

The UK government has selected Acorn CCS and Viking CCS under the Track-2 cluster sequencing process. Funding for the two projects follows a £1 billion commitment made in 2020 to deploy a total of four CCUS clusters by 2030.

Based in northern Scotland, the Acorn project seeks to repurpose legacy oil and gas infrastructure to transport and store captured CO2 under the North Sea. The Viking initiative aims to decarbonise England’s heavily industrialised Humber region, with a target to capture and store 10 million tonnes of CO2 per year by 2030.

“The UK government pledged to develop four CCUS hubs and clusters by 2030 and this latest announcement firmly points to the government’s commitment to scale up CCUS and drive down emissions”, said Guloren Turan, General Manager of Advocacy and Communications with the Global CCS Institute. “Both the Acorn and Viking cluster projects will tackle CO2 emissions in the UK’s industrial hot spots and support a just low-carbon transition on the road to net zero”, added Ms. Turan.

Further to Track-2 projects, both the East Coast Cluster in England’s Teesside and Humber area, along with the Hynet Cluster in North Wales and North West England, have previously been selected to receive funding for deployment under the Track-1 cluster sequencing process.

The UK government notes that the deployment of CCUS will have the potential to support 50,000 jobs. In addition to the £1 billion set aside to develop four CCUS clusters, the UK Spring Budget 2023 outlined £20 billion in investment towards the climate technology, cementing a commitment to support industrial decarbonisation through CCUS in the UK even further.

###

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Media Contact: Ruth Gebremedhin (London): +44 7950278261 ruth.gebremedhin@globalccsinstitute.com

 

 

 

 

 

 

 

 

Global CCS Institute Celebrates New Milestone Surpassing 200 Members
Global CCS Institute Celebrates New Milestone Surpassing 200 Members

21st June 2023

Today, the Global CCS Institute announced that it has hit a new milestone in the organization’s growth as it surpasses 200 members. The international thinktank has seen a period of record expansion over the past year with 65 new members added since April 2022.

Reflecting on this surge in support for carbon capture and storage, the Institute’s CEO Jarad Daniels observed that “It is becoming increasingly clear to many key organizations, from local industry to national governments, that CCS is an absolutely critical tool to help mitigate climate change and we cannot reach net-zero without significant deployment of Carbon Capture and Storage and Carbon Dioxide Removals.  This is especially true for some sectors like cement, steel, and fertilizer production where CCS provides the only viable path for deep decarbonization now.”

The now 202 organizations on the Institute’s membership roster reflect both the geographic and sectoral diversity within the CCS value-chain and across its stakeholders, representing 33 countries and including businesses that range from small start-ups to large energy conglomerates.

“Today’s announcement is a promising indicator that interest in CCS accelerating quickly”, continues Mr. Daniels, “While there is still much that needs to be done to reach the required scale for net-zero emissions, there has never been a more exciting time for CCS.  The Institute is grateful to all its members who support our work and we look forward to working together to help accelerate CCS deployment globally.”

Global CCS Institute Members by Country:

  • United States – 68
  • Japan – 32
  • Australia – 25
  • United Kingdom – 15
  • Canada – 11
  • Germany – 6
  • China – 5
  • France – 5
  • Other – 35

Global CCS Institute Members by Industry:

  • Engineering/Tech Services –44
  • Technology Providers – 43
  • Extractives – 37
  • Industrial –19
  • Governments – 12
  • Power Producers – 14
  • Research/Universities – 10
  • Other – 23
    • Finance (6)
    • Shipping (6)
    • Associations (4)
    • Misc. (3)
    • NGOs/Unions (2)
    • Consulting (2)

 

RESOURCES

# # #

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Media Contact: Jess Oglesby (Washington D.C.) jessica.oglesby@globalcssinstitute.com

The Global CCS Institute Welcomes Call from the White House to Accelerate Carbon Management
The Global CCS Institute Welcomes Call from the White House to Accelerate Carbon Management

22nd April 2023 - Washington DC

The Global CCS Institute welcomes President Biden’s call for accelerating carbon capture, utilization, storage, and removals (CCUS and CDR) at the Major Economies Forum (MEF); in addition to decarbonizing energy, ending deforestation and tackling non-CO2 pollutants.

“The Carbon Management Challenge announced by the White House will be a major catalyst in accelerating the deployment of carbon capture technology globally” says Jarad Daniels, CEO of the Global CCS Institute. He observes “Only a few days ago, the G7 energy and climate minsters’ communique demonstrated a united front in commitment towards carbon management and climate change mitigation, in scaling up this critical technology to gigatonne scale. Now, with the call to catalyse global climate action at the MEF, we are at a pivotal point to accelerate the deployment of all the necessary solutions to keep 1.5°C limit on warming within reach.”

The International Energy Agency (IEA) estimates that roughly 1.2 gigatonnes of CCUS and CDR will be needed by 2030 to limit warming to 1.5°C. According to the Institute’s CO2RE database, currently there are 37 commercial facilities in operation with a capacity to capture and store 50 million tonnes of CO2 per annum (mtpa). In addition, there are over 200 facilities in various stages of development, bringing the total capacity of the project pipeline close to 300 mtpa. This means that the current pipeline of projects would need to grow by 4x by 2030 to put us on the right trajectory for net-zero emissions by mid-century.

Mr. Daniels says: “Carbon management will continue to play multiple, unique roles in decarbonising the global economy, both in reducing and removing emissions.  We anticipate even more strategic partnerships and public-private collaboration driving its deployment and stand ready to support governments and businesses in accelerating the scale-up of this critical climate technology.”

Read the full announcement from the White House here:

 

# # #

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Media Contact: Jess Oglesby (Washington D.C.) jessica.oglesby@globalcssinstitute.com

The Global CCS Institute Welcomes Calls from G7 Leaders to Scale up CCS Globally
The Global CCS Institute Welcomes Calls from G7 Leaders to Scale up CCS Globally

18th April 2023

The Global CCS Institute welcomes a recently released communique from the Group of Seven (G7) Climate, Energy and Environment Ministers calling for the large-scale deployment of carbon capture and storage (CCS), among other climate mitigation measures, to reduce emissions and reach net zero rapidly.

In the communique, the G7 highlights the need to expand CO2 storage and transport infrastructure to drive decarbonisation efforts from industry, and noted the potential of hubs as an avenue for CCS deployment. The G7 also pledges to work collaboratively to develop mechanisms that will enhance the import and export of CO2, and create systems that will further incentivise CO2 utilisation.

“The G7 has shown a united front in its commitment towards CCS and climate change mitigation, which can inch CCS technology into reaching gigatonne scale”, says Guloren Turan, General Manager of Advocacy and Communications with the Global CCS Institute. “For CCS to play its needed role in the net-zero transition and for CCS deployment to scale up faster, international collaboration is key. The communique released by the G7 reflects more of what is needed in the dialogue and diplomacy surrounding the critical technology”, Turan added.

The G7 notes that alongside scaling up CCS, members will also work to strengthen and harmonise the measurement, reporting and verification of emissions reductions driven through carbon dioxide removal (CDR) technologies, including CCS technologies such as direct air carbon capture and storage (DACCS).

Further to CCS, the communique makes mention of a wide range of solutions that G7 members say can further tackle the climate challenge and spur sustainable economic growth, such as carbon markets and carbon pricing.

The G7 members include the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom, with the EU – a supranational organisation – included as a non-enumerated member. The communique follows a three-day meeting among G7 members in Japan.

The Global CCS Institute, a leading climate-think tank, is working with and on behalf of its members, three of which are G7 countries, to drive the adoption of CCS as quickly and cost effectively as possible in order to reach climate neutrality.

Read here for more on the G7 communique.

 

###

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Media Contact: Ruth Gebremedhin (London): +44 7950278261 ruth.gebremedhin@globalccsinstitute.com

 

 

 

The Global CCS Institute Welcomes the UK Government’s Progress on the Cluster Sequencing Process for CCUS
The Global CCS Institute Welcomes the UK Government’s Progress on the Cluster Sequencing Process for CCUS

31st March 2023

The UK government has selected 8 projects from its Track-1 cluster sequencing process for carbon capture, utilisation and storage (CCUS) to proceed to negotiations for government support. This represents Phase 2 of the Track-1 cluster sequencing process that previously established the HyNet Cluster and the East Coast Cluster as funding recipients.

The 8 projects cover a range of innovative CCUS technologies, 3 of which fall under the East Coast Cluster and 5 tied to the HyNet Cluster. The selected projects from the Track-1 Project Negotiation List include the following:

East Coast Cluster projects:

  • Net Zero Teesside Power
  • bpH2Teesside
  • Teesside Hydrogen CO2 Capture

HyNet Cluster projects:

  • Hanson Padeswood Cement Works Carbon Capture and Storage Project
  • Viridor Runcorn Industrial CCS
  • Protos Energy Recovery Facility
  • Buxton Lime Net Zero
  • HyNet Hydrogen Production Plant 1 (HPP1)

In addition to the progress made on Track-1 efforts, the UK government officially launched its Track-2 cluster sequencing process that will establish two additional clusters to transport and store at least 10 Mt of CO2 per year by 2030. Scotland’s Acorn CCS Project, and the proposed Vikings CCS effort in England, are both being eyed as the leading contenders for funding.

“This next step to support industrial decarbonisation is incredibly promising and illustrates that the UK government is committed to having carbon capture, utilisation and storage play a strong role in the low carbon transition”, said Guloren Turan, General Manager of Advocacy and Communications with the Global CCS Institute. “With a current target in the UK to curb 20-30 million tonnes of CO2 per year through CCUS by 2030, the projects established through the cluster sequencing process will help make good on that effort”, added Turan.

The UK government’s CCUS commitments are part of its broader climate target to reach net zero by 2050, which was signed into law in 2019.

###

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Media Contact: Ruth Gebremedhin (London): +44 7950278261 ruth.gebremedhin@globalccsinstitute.com

The UK Government Unveils Significant CCS Funding in 2023 Spring Budget
The UK Government Unveils Significant CCS Funding in 2023 Spring Budget

16th March 2023

The Global CCS Institute welcomes the UK government’s new carbon capture and storage (CCS) funding commitment, as announced by Chancellor Jeremy Hunt during the release of the Spring Budget 2023. As outlined in the budget, the government commits to investing £20 billion to scale-up CCS projects across the UK.

The new funding will be rolled out over a period of twenty-years, and will support the development of CCS initiatives, particularly in North Wales, North West of England and the East Coast. The announcement builds on the governments cluster sequencing process, where £1 billion was previously announced to scale-up CCS efforts, selecting the Hynet Cluster and the East Coast Cluster as initial beneficiaries.

A short list of CCUS projects for deployment will be announced in late March. The government also intends to allow for more CCS projects to enter the selection process for Track 1 clusters, which aims to see two clusters deployed by the mid-2020’s. The budget further states that two additional CCS clusters will be selected through a Track 2 process, with further details upcoming.

“This new funding commitment will lead to significant emissions reductions from industry across the UK, and will ensure that CCS clusters will play their part in tackling the climate crisis”, said Guloren Turan, General Manager of Advocacy and Communications with the Global CCS Institute. “This £20 billion pledge will also provide investors with the confidence they need to pursue their CCS ambitions. The Institute keenly looks forward to the upcoming projects that will be part of the cluster sequencing process overall”, added Turan.

The UK governments CCS efforts is part of its broader climate target to reach net-zero by 2050, which was signed into law in 2019. During the budget announcement, Chancellor Jeremy Hunt re-affirmed the governments aim to capture 20-30 million tonnes of CO2 per year through CCS by 2030, and anticipates 50,000 jobs will be supported through CCS investment.

***

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Media Contact: Ruth Gebremedhin (London): +44 7950278261 ruth.gebremedhin@globalccsinstitute.com 

Australian Federal Budget – More Support for CCS Needed to Achieve Net-Zero
Australian Federal Budget – More Support for CCS Needed to Achieve Net-Zero

25th October 2022

The Global CCS Institute said the Australian Federal Budget, although containing important measures across climate, was lacking the necessary support for carbon capture and storage (CCS).

Alex Zapantis, General Manager – Commercial at the Global CCS Institute, said CCS is critical to achieving climate targets and requires a range of incentives to reach necessary scale.

“CCS is critical to achieving global climate neutrality and will play an important role in achieving national net-zero targets,” said Mr Zapantis.

“Australia is well placed to play a leading global role in lower-carbon LNG, clean hydrogen, and carbon dioxide (CO2) storage as a service, all made possible by CCS. Not only is the technology suite essential to reducing CO2 emissions, CCS investment also offers significant social and economic benefits, most notably a just transition for communities reliant on carbon-intensive industries.”

“The Institute recognises and welcomes ongoing support for CCS in hard-to-abate industrial sectors and negative emissions and funding for the Middle Arm Sustainable Development Precinct in the Northern Territory. However, funding previously committed to CCS should have been realised. The Government’s decision places it in stark contrast to other advanced economies that are providing significant support for CCS, recognising its importance to climate ambition and economic prosperity.  The European Union and the governments of the Netherlands, Denmark, Norway, the UK, USA and Canada are each providing billions of dollars to support CCS investment and secure the future of their heavy industry.”

“Domestic policy settings must attract private capital to deploy CCS at necessary scale, requiring a range of incentive mechanisms. Coupled with the strengthening of the Safeguards Mechanism and access to Australian Carbon Credit Units (ACCUs), funding for CCS is necessary to provide confidence for investors.”

“Decarbonising the Australian economy without CCS is nearly impossible. Without government support at this critical juncture, the transition will be far more costly and volatile, particularly for our regions.”

CCS is proven and well understood, with 30 operational facilities around the world with a cumulative capture capacity of more than 40 million tonnes of CO2 per year. A recent report from the Institute revealed momentous growth in the CCS project pipeline, with 196 facilities in various stages of development around the world and improving policy environments from governments.

 

###

Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@globalccsinstitute.com

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security.

Carbon Capture and Storage Experiencing Record Growth as Countries Strive to Meet Global Climate Goals
Carbon Capture and Storage Experiencing Record Growth as Countries Strive to Meet Global Climate Goals

17th October 2022 - Australia, Melbourne

Carbon capture and storage (CCS) continues to grow worldwide, according to a new report released by climate think tank the Global CCS Institute. The Global Status of CCS 2022 report reveals a record high of 196 commercial CCS facilities in the project pipeline, including 30 projects in operation, 11 under construction, and 153 in development. With 61 new facilities added to the project pipeline in 2022, the CO2 capture capacity of all CCS facilities under development has grown to 244 million tonnes per annum (Mtpa) – an impressive growth of 44 percent over the past 12 months.

The Global CCS Institute’s CEO, Jarad Daniels, said the rate of growth for CCS can be expected to increase further as countries and companies work to achieve their climate commitments on a shrinking carbon budget.

“The latest, most credible scientific analysis from organizations including the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA), highlights that reaching our climate goals is practically impossible without CCS” said Mr. Daniels.

“CCS is the Swiss Army knife of climate mitigation - it will continue to play multiple, unique roles in decarbonising the global economy. Many essential industries like cement and chemical production have no other viable path for deep decarbonisation other than CCS.”

Not only is CCS vital for reducing CO2 emissions, investment in CCS also offers significant economic and social benefits. For example, CCS can help facilitate a just transition in communities who are reliant on carbon intensive industries; protecting local jobs from economic dislocation by helping transform emission-intense industries to near-zero industries.

As CCS continues to scale-up we are also seeing savings in cost and efficiency of deployment. ”Thanks in part to strengthening government policies around the world, CCS is increasingly commercially competitive across the full value chain, from capture technologies through to storage,” explained Mr. Daniels. “We anticipate even more strategic partnerships and collaboration driving deployment, particularly through CCS networks.”

The Global Status of CCS 2022 shows:

  • In 2022, there are 30 commercially operating CCS facilities, 11 facilities in construction and 153 in various stages of development
  • The capture capacity of CCS projects in the project pipeline is 244 million tonnes per annum (Mtpa) – an increase from 169 Mtpa in 2021.
  • The United States has introduced significant policies and laws, most notably the Inflation Reduction Act (IRA) which provides enhancements to the 45Q tax credit for CCS. Early analysis suggested the IRA could increase the deployment of CCS by 13-fold, or well over 110 Mtpa, by 2030 compared to existing policy.
  • Canada continues to pursue CCS as part of broader decarbonisation, with the 2022 Federal Budget including a CCUS Tax Credit and a CCUS strategy currently under development.
  • In Europe, the Danish Government has committed €5 billion for CCS over 10 years, the Dutch Government has more than doubled the SDE++ program since its launch, to €13 billion. Several new countries in Europe, including Poland, Bulgaria, and Finland, are entering the CCS market for the first time due to the EU Innovation Fund’s granting program.
  • In the Asia Pacific region, Thailand announced its first CCS project, China’s first million tonne project commenced operations, and Australia saw new project announcements in Victoria and Western Australia, and notable progress in the Northern Territory.
  • Across the MENA region, CCS continues to be driven by NDCs and net-zero commitments, the potential to take a significant share of the low-carbon hydrogen market, and various low carbon industrialization plans.

Although the outlook for climate action has never been more positive, global efforts to reduce emissions, including investment in CCS, are still grossly inadequate. “Government policy must be met with private capital to unlock the full potential of CCS and limit global warming to 1.5 degrees to avoid the most catastrophic impacts of climate change. Though CCS deployment is scaling rapidly, we need to see an increase by at least a factor of 100 if we are to achieve the Paris climate goals, which makes this decade an absolutely critical time to move from ambition to action.”

 

# # #

 

US / North America

Jessica Oglesby

Jessica.oglesby@globalccsinstitute.com

 

 Europe / MENA  

Ruth Gebremedhin

ruth.gebremedhin@globalccsinstitute.com

 

Asia Pacific

Matt Steyn

matt.steyn@globalccsinstitute.com

Global CCS Institute Welcomes White House Announcement of Two New Taskforces on Carbon Capture and Storage
Global CCS Institute Welcomes White House Announcement of Two New Taskforces on Carbon Capture and Storage

29th July 2022 - Washington DC

In the Federal Register today the White House Council on Environmental Quality announced the creation of two new taskforces on “Carbon Dioxide Capture, Utilization, and Sequestration (CCUS)” which will provide recommendations on increasing the efficiency and equity of CCUS permitting and development. One of the taskforces will focus on CCUS deployment on federal lands and offshore waters, while the other focuses on non-federal lands.

The Global CCS Institute’s CEO, Jarad Daniels, welcomed this development, saying: “Today’s announcement further demonstrates the Biden Administration’s commitment to climate leadership. The science tells us that CCUS is necessary to achieve our global climate goals, and these two new taskforces will help accelerate decarbonization across the United States, putting us on a stronger trajectory towards net-zero emissions.”

The U.S. is undoubtedly a global leader in CCUS with 12 commercial facilities in operation and approximately 70 additional facilities under development, but further action is urgently needed. “The challenge before us is that globally we need to scale well beyond five gigatonnes of carbon capture annually within the next few decades to help achieve our global climate goals, which is over 100x our current capacity,” Mr. Daniels said, referencing findings from recent International Energy Agency reports. “Reaching gigatonne scale CCUS is an all-hands-on-deck effort and that means we need broad public support. These two new taskforces will help ensure that a wide range of stakeholders, particularly local communities, have a voice in CCUS projects and benefit from their development.”

 

CONTACT

Jess Oglesby

Senior Communications Lead for the Americas

Jessica.oglesby@globalccsinstitute.com

 

ABOUT

The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality. For more information, visit www.globalccsinstitute.com

Newsletter

Get the latest CCS updates