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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.”
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US / North America
Jessica Oglesby
Jessica.oglesby@globalccsinstitute.com
Europe / MENA
Ruth Gebremedhin
ruth.gebremedhin@globalccsinstitute.com
Asia Pacific
Matt Steyn
Melbourne – 22 September 2020 – The inclusion of CCS as one of five priority technologies in the Australian Government’s Technology Investment Roadmap released today underscores CCS’s role as a vital low-emissions technology that can deliver multi-million tonne abatement at competitive costs.
In welcoming the Roadmap, CEO of the Global CCS Institute, Mr Brad Page said CCS is a proven class of technologies and a vital part of Australia’s low-emissions future.
“CCS has been in commercial operation around the world for decades, in a wide variety of industries. Its applications are exceptionally broad and especially suited to the so-called hard-to-abate sectors like steel manufacturing, cement and fertiliser production. It is backed by both the IPCC and the IEA as a vital technology for reducing emissions to net-zero by mid-century and achieving global climate change targets, including for its role in carbon dioxide removal”.
“Globally, investment in CCS facilities is accelerating quickly as governments and industry alike recognise the necessity to deploy the technology along with all other options to address climate change and achieve net zero emissions by mid-century. Indeed, Norway announced yesterday that it will be proceeding with a globally significant integrated CCS project capturing emissions from a cement plant and storing them in a new offshore geological storage facility. Australia is far from being alone in pursuing CCS”, said Mr Page.
“Australia is home to a number of industries where CCS is the key to decarbonisation. In several cases, these industries involve processes that deliver near-pure CO2 gas streams, ready for storage at low cost. The $20/tonne target for transportation and storage of CO2 announced today is realistic and achievable with the appropriate policy settings in place”.
“Australia is blessed with abundant, world-class geological resources required to safely and permanently store CO2. These resources are often in close proximity to large industrial CO2 sources with a very low cost of capture”.
Mr Page said this drives down CO2 transport costs and, when coupled with Australia’s CCS expertise and experience, provides the country with a global comparative advantage in CCS deployment.
“If anything, this happy coincidence of assets and capabilities could indicate a larger role for CCS in Australia than the global average, and the opportunity for our nation to become a global leader in the deployment of CCS as an emissions reduction technology”.
The production of low-cost, near-zero emissions hydrogen with CCS is one clear example of this opportunity for Australia, said Page.
“Hydrogen production from fossil fuels with CCS is the lowest cost source of clean hydrogen and is operating at full commercial scale today. Currently, approximately 98% of hydrogen production world-wide is from the reformation of methane or the gasification of coal or similar materials of fossil-fuel origin. Already, seven hydrogen production facilities in the world are fitted with CCS technology and operating successfully and commercially”.
“It is proven beyond doubt that the lowest cost production of clean hydrogen is from coal gasification or steam methane reformation with CCS. It is one third to one half the cost of renewable powered electrolysis and is expected to remain so well beyond 2030”.
“CCS offers enormous potential to deliver substantial emission reductions using technologies that are available right now at low cost, whilst also helping the economy, a factor that has never been more important than today”, said Mr Page.
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Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@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. Working with and on behalf of our Members, we drive the adoption of CCS as quickly and cost effectively as possible; sharing expertise, building capacity and providing advice and support so CCS can play its part in reducing greenhouse gas emissions.
Melbourne, 17 September – The expansion of the mandates of two government bodies to include carbon capture and storage (CCS) was today welcomed by the Global CCS Institute as a positive step forward for the acceleration of CCS deployment in Australia.
“Today’s announcement from government to expand the remits of the Clean Energy Finance Corporation and the Australian Renewable Energy Agency’s beyond renewables is a welcome development”, said Brad Page, CEO of the international CCS think-tank.
“Alongside a funding commitment of $1.9 billion, this announcement demonstrates a strong commitment from government to the development and deployment of the next generation of low-emission technologies in Australia, including CCS”.
“CCS is a vital emissions abatement technology that is commercially available today and able to strengthen our economy and support jobs”.
“CCS technologies are critical to reducing emissions across hard to abate heavy industry, such as steel and cement manufacturing, that have very few other options to decarbonise”, said Mr Page.
Mr Page added that increased investment in CCS will lead to vast opportunities for the technology to drive the creation of new energy industries in Australia, leading to ongoing economic growth and development, in particular for regional areas.
“Investment in CCS today, ultimately increasing deployment of the technology in the near to medium term, creates opportunities for Australia to not only transition to significantly lower emissions, but unlock new clean energy industries, stimulate substantial economic activity and create jobs for our regions”, said Mr Page.
“CCS enables the production of very low-cost, near-zero emissions hydrogen, providing Australia with an incredible opportunity to invest now to be a future global leader in the production of clean hydrogen, as well as stimulating other clean energy industries such as low-emissions chemicals and fertiliser production.
Mr Page also welcomed the announcement of $50m for the establishment of CCS hubs, noting it brings Australia in line with international practice of maximising the opportunity of industrial CCS hub and clusters.
“CCS hubs and clusters are characterised by multiple industrial sources of CO2 accessing common CO2 transport and injection infrastructure. They significantly reduce the unit cost of CO2 transport and storage through economies of scale, and offer commercial and technical synergies that reduce the risk of investment and further reduce cost.
Industrial CCS hubs and clusters are emerging globally as the next wave of CCS investment and Australia is very well placed to exploit its world class storage opportunities with this initiative, Page said.
CCS is a proven versatile technology that reduces emissions from industry, power generation and hydrogen production and enables negative emissions through bioenergy with CCS and direct air capture.
Globally, there are now 20 large-scale CCS facilities capturing over 40 million tonnes of carbon dioxide every year. Australia is the home to the world’s largest geological storage facility – the Gorgon CCS facility in Western Australia.
Contact: Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@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. Working with and on behalf of our Members, we drive the adoption of CCS as quickly and cost effectively as possible; sharing expertise, building capacity and providing advice and support so CCS can play its part in reducing greenhouse gas emissions.
Melbourne: Monday 8 October, 2018: Latest Intergovernmental Panel on Climate Change (IPCC) findings released today are further confirmation that carbon capture and storage (CCS) is essential to mitigating climate change.
Welcoming the release of the IPCC’s Special Report of 1.5 Degrees, the world authority on CCS, the Global CCS Institute, said 2 degrees, let alone 1.5 degrees, cannot be met without CCS and the best climate science available was continuing to support that fact.
Global CCS Institute CEO, Brad Page, said as the world veered off-track in meeting international climate change commitments, it was pressingly apparent that CCS was an essential part of the arsenal of clean technologies needed to combat climate change.
“The IPCC’s report reconfirms the role which carbon capture and technology must play in beating climate change, and the fact that all technologies are necessary.
“As the IPCC has acknowledged, the extreme weather events witnessed around the world over the past few months are evidence enough of the catastrophe that climate change poses.
We need to take heed and take action to what is happening. The IPCC’s report is yet another call to arms.”
Mr Page said the IPCC, as well as the International Energy Agency (IEA), confirmed that CCS was the only technology capable of decarbonizing major industry, particularly the high emitting cement, steel and petrochemical sectors.
“These are sectors that cannot be turned off at the flick of a switch. They need a technology that can mitigate their emissions at the same time as safeguarding the jobs and economies they support.
“We have a technology that can bridge the gap between our current fossil fuel dependence and a future which is emission free.”
Mr Page said the Report has reinforced the fact that a 1.5 degree world cannot be reached without deployment of all clean technologies and carbon capture and storage is most definitively one.
“CCS must remain at the forefront of national, regional and international policy discussions and, as the IPCC said today, governments must act on this evidence.”
There are now 18 large-scale CCS facilities in commercial operation around the world, with five in construction and more 20 in various stages of development.
Ends
Antonios Papaspiropoulos (Melbourne): +61 401 944 478 antonios.papaspiropoulos@globalccsinstitute.com
Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@globalccsinstitute.com
Annya Schneider (Brussels): +32 (0) 25503972 annya.schneider@globalccsinstitute.com
Lee Beck (Washington DC): +1 202-677-9053 lee.beck@globalccsinstitute.com
About the Global CCS Institute: 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 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
