Overview of Carbon Capture and Storage (CCS) Demonstration Project Business Models: Risks and Enablers on the Two Sides of the Atlantic
13th September 2017
Topic(s): Carbon capture, use and storage (CCUS)
There are 15 large-scale CCS projects operating globally. Ten out of these fifteen projects, are located in North America . The European Union's (EU) stated ambition was to have up to twelve operating CCS projects by 2015 , however this goal was not accomplished. The two projects currently operating storage in the European Economic Area, Sleipner and Snøhvit, are located in Norway. Because of this disparity in the number of projects operating in North America and in Europe – ten vs. two – we have analysed business models of major CCS projects in North America and in Europe, with an aim to identify risks and enablers in CCS project financing development on both continents. We find that successful CCS project development depends on multiple factors, such as (i) clarity of regulatory frameworks, (ii) efficiency of permitting processes, and (iii) early and sustained stakeholder engagement for public acceptance. However, project finance remain the most challenging piece.
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