Published December 7, 2021
The market for carbon capture, utilization and storage technologies (CCUS) could be at a turning point following a decade of project cancelations and concerns about cost and scalability, according to the International Energy Agency.
The global pipeline of CCUS facilities more than doubled in 2021 with more than 100 new projects announced since 2020, IEA data shows. The surge can be attributed to net-zero ambitions, interest in low-carbon hydrogen, and an improved investment environment.
“The unprecedented momentum in 2021 provides cause for optimism that CCUS may finally be shrugging off an underwhelming track record to emerge as an important contributor to addressing the climate challenge,” Samantha McCulloch, head of the IEA’s CCUS unit, said. “This is both welcome and necessary. If net zero is to remain within reach, CCUS cannot spend another decade sitting on the sidelines of climate mitigation efforts.” The full story is here.
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