The carbon capture, utilisation and storage (CCUS) market had a big 2022, with close to 100 % growth in project announcements. North America took the lead thanks to its favourable policies, while APAC countries started to catch up.
This year, the focus is on the mature markets of Europe and North America, as an avalanche of projects is expected to move to the next phase. However, a third of the projects in the pipeline are expected to be delayed, although project announcements will keep pace in 2023.
There is currently a lack of available CO2 infrastructure. Onshore pipelines continue to emerge as the CO2 transport mode of choice, with some ambitious large-scale developments in the US Midwest.
Dozens of CO2 transport terminals and vessels will be needed in the emerging CO2 shipping market, which is currently centred on the North Sea, with Norway, Denmark and the Netherlands positioned as attractive CO2 importing countries for storage.
In most parts of the world, the EOR method of CO2 storage is on the verge of losing its dominance, although in Asia it is gaining ground thanks to improving economics and companies’ decarbonisation ambitions.
Storage in saline and volcanic aquifers is on the rise due to large storage capacity and potentially cheaper and more efficient CO2 storage.
Source: El periódico de la energía