Multiple business models key to CCS by 2030–CeraWeek
The emergence of diverse sequestration technologies, supported by incentives such as the US 45Q tax credits, will be essential to widespread adoption
The widespread proliferation of carbon capture and storage (CCS) over the coming decade will depend on a combination of astute government policies and private sector market developments—crucially, reducing costs—a panel of industry experts agreed at CeraWeek yesterday. “Over the next five to ten years… our hope is to see a proliferation of projects with a variety of sources, whether fossil [emissions capture] or direct air capture, and a variety of uses including sequestration or enhanced oil recovery,” said JR Rickertsen, managing director, energy corporate banking, BofA Securities. He noted that the models developed in the US are “very much” based on 45Q tax credits, whereas Europe is taki
Also in this section
8 May 2024
Allowance prices rise 34% since start of year as regulator imposes tighter limits and considers reduction of free allocations
7 May 2024
Policymakers should consider backing enhanced weathering as a CDR technique with benefits to the agricultural sector
3 May 2024
Developers look to government’s forthcoming budget to restore support as industry suffers loss of momentum
1 May 2024
Abundant storage and low cost of capturing CO₂ from sharply rising gas production mean NOC’s ambitious CCUS targets look well within reach