Articles
6 June 2023
Germany launches carbon CfD scheme
Government expects to budget more than €10bn for subsidy programme in response to US IRA
2 June 2023
ExxonMobil signs CCS deal with steelmaker Nucor
Oil major sees CCS for third parties as a ‘compelling’ business as latest contract takes total portfolio to 5mn t/yr
1 June 2023
Realistic hope should be the legacy of Cop28
The appointment of the UAE’s Sultan Ahmed al-Jaber as Cop president has drawn criticism from some quarters, but progress on the energy transition will require cooperation, not conflict
31 May 2023
World must scale up CCUS for net zero, says IEA’s Budinis
CCUS is one of the key tools for decarbonising the energy system, but governments and industry must act now to accelerate its deployment at scale
30 May 2023
Energy firms face rising offset cost burden – PWC
Spending on voluntary offsets by UK companies could equate to 8.5pc of 2022 gross profits by 2050, consultancy says
30 May 2023
CDR defies cost pressures to win over corporate buyers
Growing list of offtake deals shows large corporations are ready to invest in expensive engineered carbon dioxide removal to support their net-zero goals
24 May 2023
Tackling methane a ‘no-brainer’ for oil and gas industry, says IEA’s McGlade
Cutting emissions of the potent greenhouse gas is beneficial not just for the climate but also for companies’ bottom lines and their social licences to operate
23 May 2023
UK’s Drax pivots Beccs expansion to US
Company plans £4bn investment in new plants in southern US, evaluates nine other sites and opens Houston Beccs headquarters
22 May 2023
IEA’s Birol sees role for oil and gas as part of ‘orderly’ energy transition
Tackling both the energy security crisis and the climate crisis means clean energy push must be secure and affordable
19 May 2023
Harnessing the VCM to retire orphaned oil and gas wells
The American Carbon Registry launches methodology for tradeable offsets generated from plugging abandoned wells in the US
19 May 2023
UK awards 20 offshore CO₂ storage licences
First licence round sees 12 developers secure rights to appraise storage sites with potential to hold 10pc of UK’s annual emissions
16 May 2023
Airbus and Masdar explore DAC for SAF
Joint project aims to develop production of sustainable fuels by combining direct air capture and green hydrogen
16 May 2023
Danish subsidy award unlocks major CCS project
Orsted places €200mn order with Aker Carbon Capture and seals large offtake deal with Microsoft as state aid opens way for CCS at bioenergy plants
10 May 2023
US CCUS sector weighs risks and rewards
Many projects look attractive on paper but come with multiple risks for financiers and developers, say speakers at Washington forum
9 May 2023
Technology the answer for oil sands’ net-zero goals
The six Canadian producers of the Pathways Alliance look to employ technical innovation and energy efficiency to reach scope one and two targets, says group president Kendall Dilling
9 May 2023
Major CDR projects secure offtakers in landmark deal
Corporate buyers including UBS and Swiss Re commit to buy carbon dioxide removals in boost for emerging sector
5 May 2023
US carbon management a $600bn opportunity, says DoE
Industry poised to invest heavily on the back of attractive CCUS economics in gas processing and other sectors, US Department of Energy says in new report
4 May 2023
Avoiding old geopolitical paradigms for new energy challenges
The US needs critical minerals for the energy transition, but its strategy for securing supplies should not mirror its approach to fossil fuels
3 May 2023
Santos ups Bayu-Undan CCS demand forecast
Australian oil and gas producer says MoUs with potential customers imply higher demand for storage at projects in East Timor
2 May 2023
China bides its time on ETS extension
Government may not broaden scope of world’s largest cap-and-trade scheme until 2024 or later
2 May 2023
Should the UK power its CCUS ambitions with EOR?
Enhanced oil recovery could recycle carbon to sustain North Sea oil production while renewables are scaling up
27 April 2023
Wintershall hunts for CO₂ storage in Egypt and Argentina
German oil and gas company actively screening potential offshore sites in both countries
25 April 2023
ABB and Pace join forces to lower CCS costs
Partnership’s offering includes use of digital twin technology to model full chain of a CCS system, the companies tell Carbon Economist
25 April 2023
Carbon Engineering hits its stride
Canadian DAC firm has received backing from the aviation sector and is accelerating deployment of its technology through a partnership with Occidental subsidiary 1PointFive, CEO Daniel Friedmann tells Carbon Economist
21 April 2023
Net zero demands huge carbon-capture investment – IEA
Project pipeline implies only a quarter of capacity needed by 2030, IEA says
20 April 2023
Next oil and gas windfall will come from transition
Ability to attract ESG capital will become key differentiator for energy companies as the transition advances
20 April 2023
Climeworks bids for three US DAC hubs
Swiss company targets proposed hubs in Louisiana, California and Northern Great Plains under DoE funding programme
18 April 2023
Salzgitter secures €1bn in government finance for green steel
The first stage of its Salcos decarbonisation programme is due to start operations by end-2025
18 April 2023
Governments aim to unleash cross-border CO₂ trade
Growth of carbon removal and capture sectors creates need for functioning international market linking emitters and storage providers
14 April 2023
Corporations commit more than $1bn towards carbon removals
JP Morgan, Autodesk, Workday and H&M commit to purchasing combined $100mn of carbon removals via the Frontier initiative by 2030
12 April 2023
Onyx plans 1.2GW blue hydrogen project
Company plans 2028 commissioning for project sited next to its coal power plant in the port of Rotterdam
12 April 2023
BP takes stake in Viking CCS
The project is a ‘leading contender’ for track two sequencing and could take FID by next year
12 April 2023
Linde and Heidelberg announce 70,000t/yr CCUS project
The project will capture CO₂ from the Lengfurt cement plant in Germany and process it for use in the manufacturing, chemicals and food industries
6 April 2023
Idemitsu Kosan to purchase efuels from HIF
The Japanese firm will also co-invest in new efuels facilities and supply captured carbon dioxide
6 April 2023
Canada signals support for $1bn Heidelberg CCUS project
Government in talks with Germany-based cement maker over proposed project to make Edmonton plant carbon neutral
5 April 2023
Aker BP joins Nordic CCS push
Independent oil and gas firm targets European emitters after securing Norwegian storage exploration licence
4 April 2023
ExxonMobil to store CO₂ from Linde blue hydrogen complex
The oil major will deposit up to 2.2mn t/yr from the planned $1.8bn facility in Texas
4 April 2023
More CCUS projects reach FID as confidence grows
Policy incentives and rising carbon prices embolden developers as hub model gains traction, IEA says
31 March 2023
US DoE tests DAC technologies
Two field tests of solid amine sorbent-based DAC systems are currently underway in an effort to increase efficiency and lower costs
31 March 2023
Voluntary carbon markets’ growth challenges
Conference participants voice concerns over public perception and difficulties integrating carbon instruments into broad investment portfolios
30 March 2023
UK eyes Cbam as net-zero push accelerates
Government consults on measures to tackle carbon leakage as it ramps up domestic decarbonisation efforts
29 March 2023
Canada extends CCUS tax credit to British Columbia
Support currently only available to projects in Alberta and Saskatchewan to be extended as part of C$520mn package of policy enhancements
29 March 2023
UK nuclear plant could power large-scale DAC
Associated British Ports and developers of Sizewell C seek permission to build heat-assisted DAC demonstrator
28 March 2023
Bechtel studies UK CCS rail plan
Project to take emissions from waste-to-energy plant could pave way for creation of country’s first CCS rail corridor
27 March 2023
BHP and HBIS to test CCUS at Hebei steel plants
Australian mining company and major Chinese steelmaker agree to develop projects to demonstrate several technologies
27 March 2023
Traders expect more carbon border taxes
EU’s Cbam model likely to be replicated as national emission reduction schemes move at different speeds, global trading companies say
24 March 2023
GE and Svante collaborate on solid sorbent carbon capture
Companies agree to develop applications of Svante’s novel technology for gas-fired power plants
23 March 2023
Industrial emitters demand action to kickstart German CCS
Companies urge government to prioritise rapid scale-up of technology and infrastructure in forthcoming national carbon management strategy
22 March 2023
Shell sees DAC potential for synthetic fuels production
Direct air capture could be significant provider of CO₂ feedstock, oil major says in climate-focused future energy scenario
21 March 2023
Drax pauses world’s largest Beccs project
Major biomass power generator says £2bn project cannot proceed without clarity on UK government support for technology
21 March 2023
BP and CNPC explore Hainan CCUS project
European oil major agrees to work with CNPC as Chinese state company seeks international partnerships to grow deployment of CCUS
20 March 2023
Mercuria to invest $500mn in nature-based projects
Commodities trader aims to generate carbon credits for use in voluntary and compliance markets via new investment vehicle
17 March 2023
Shell rejects calls for new scope three targets
Oil major pushes back on shareholder demands amid easing ESG pressures on industry
16 March 2023
EU net-zero act prioritises CO₂ storage
Package of regulatory proposals sets 2030 storage target as EU jostles for position in global green technology race
16 March 2023
Germany under pressure to curb emissions
Government developing new strategy on CCS and other carbon management tools as energy sector emissions continued to rise last year
16 March 2023
UK backs CCUS with £20bn funding pledge
Government commitment reassures investors and paves way for first two industrial clusters
15 March 2023
China weighs response to EU carbon border tax
CBAM expected to have significant long-term impact on trade with EU, warns speaker at country’s annual parliamentary session
13 March 2023
Illinois Beccs project contracts Gas Liquids Engineering
Canadian engineering company hired by Marquis Energy to develop largest Beccs system in the state
10 March 2023
Shell’s carbon compliance costs to double next decade
Oil major projects annual cost of $1.5bn in 2032 as governments develop emissions regulations
9 March 2023
Chevron expands Bayou Bend CCS project
Project on US Gulf Coast will be expanded to have storage capacity for 1bn t CO₂ as part of firm’s wider CCS ambitions
8 March 2023
Greensand claims ‘world’s first’ cross-border CCS
The Danish pilot project has captured CO₂ at an Ineos facility in Belgium and shipped it to Esbjerg for injection into a depleted oilfield in the North Sea
8 March 2023
Mideast Gulf edges forwards on carbon capture
State energy firms are pinning hopes on the technology to retain long-term competitiveness
6 March 2023
Entropy’s Glacier CCS project excels in first phase
Performance of first commercial-scale project spurs global interest in Canadian company’s modular CCS solution, CEO Mike Belenkie tells Carbon Economist
3 March 2023
ABB and Pace aim to reduce CCS costs
Engineering companies form partnership to de-risk CCS projects with digital twin technology
3 March 2023
Australia debates use of offsets
Reform of scheme to cut industry emissions will see new rules on the use of both domestic and international offsets
2 March 2023
Occidental’s 1Pointfive plans major Texas CCS hub
Bluebonnet hub on Gulf Coast will offer industrial emitters access to shared CCS infrastructure
1 March 2023
Bahrain studies CCS mega-project
Multibillion dollar onshore development expected to enter Feed stage by end-2023, Nogaholding chief executive says
1 March 2023
Voluntary carbon offset prices fall
Uncertainty over integrity of offsets has weighed on prices since the start of the year, brokers tells Carbon Economist
28 February 2023
EU ETS reaches record highs
Utility hedging and a tighter supply-demand balance are boosting prices, but falls still expected later in year
27 February 2023
Essar earmarks $3.6bn for transition in UK and India
Newly created division will deliver projects including low-carbon hydrogen, biofuels and CCS, with bulk of investments aimed at the UK’s Stanlow refinery, Indian conglomerate says
27 February 2023
US launches $2.52bn CCS funding programme
Cash for large-scale pilot and demonstration projects aimed at decarbonising power generation and hard-to-abate industries
24 February 2023
Wintershall bets on CCS in post-Russia transition
German independent oil and gas company evaluating multiple CCS projects but returns will not initially match E&P, COO Dawn Summers tells Carbon Economist
22 February 2023
Wood wins Canada oil sands CCS pipeline contract
Scotland-based firm to work on engineering and design of 400km line linking oil sands facilities to storage hub near Cold Lake
22 February 2023
Neptune and Capeomega plan North Sea CCS network
RWE signals backing for Noordkaap project with intent to ship carbon dioxide from power plant in Netherlands
21 February 2023
Heirloom to market lime-based DAC technology
US technology company signs MoU to use calcination process initially developed to abate cement industry emissions
21 February 2023
Change Gfanz to save it
Investor alliance must reconcile push for decarbonisation with responsibility to maximise returns for clients
17 February 2023
Ineos secures €3.5bn for green cracker project
Ethane cracker plant at port of Antwerp to use hydrogen generated as a byproduct of its own ethylene production
16 February 2023
Solvent research to improve CCS methods
Research into technologies to prevent degradation of solvents will help de-risk carbon capture
16 February 2023
Shell and Energean explore CCS for Egyptian LNG
Companies agree to study feasibility of carbon dioxide storage in depleted reservoir in Abu Qir offshore gas concession
16 February 2023
US CCS ‘ready to accelerate’ – Aker Carbon Capture
Norway-based company hires first US representative as Inflation Reduction Act fires up North American market
15 February 2023
Beccs seeks scale in ‘decisive decade’
Commercial plants yet to launch but growing pipeline of projects could deliver tenfold increase in capacity by 2027
14 February 2023
California DAC consortium bids for hub funding
The group, which includes Brookfield Renewable and Southern California Gas Company, plans to develop capture and storage network across California
13 February 2023
CCS key to decarbonising Canada’s oil sands
Pathways Alliance has put CCS at the heart of its net-zero strategy as it aims to achieve meaningful reductions in emissions from oil sands by 2030, alliance president Kendall Dilling tells Carbon Economist
10 February 2023
Chevron backs Australia CCS research
Bulk of A$38mn commitment aimed at SLB-led project to identify CCS opportunities offshore Western Australia
10 February 2023
CBL exchange eyes growing share of offset trade
Exchange traded volumes rising as voluntary carbon market matures, CBL’s parent company Xpansiv tells Carbon Economist
10 February 2023
EU ETS revisions close to becoming law
Final shape of the law endorsed by European Parliament with only EU Council endorsement remaining
9 February 2023
UAE to tap Zambia forestry for carbon credits
Two governments sign MoU allowing UAE to develop forestry-based projects in the African country
9 February 2023
CCS needs storage at scale to be profitable – TotalEnergies
Investment in CCS is a ‘permit to operate’ for oil and gas companies but not a profitable business model in the near term, says CEO Patrick Pouyanne
7 February 2023
BP softens emissions goals in push for ‘orderly’ transition
Oil and gas major revises down scope three targets as it plans slower reductions in oil and gas production to 2030
7 February 2023
Nature-based carbon offset momentum defies critics
A recent trend towards offset crediting at a jurisdictional level is raising funds at a much larger scale than traditional project-based programmes
7 February 2023
Denmark awards licences to CCS frontrunners
TotalEnergies, Wintershall Dea and Ineos secure first exclusive licences to explore potential offshore storage sites
3 February 2023
Offset oversupply threatens carbon removal tech
Surplus offsets in voluntary carbon market could depress prices to 2050 and deter investment in more expensive removal methods, says BloombergNEF
2 February 2023
Equinor exits Barents Blue and Polaris
Norwegian state-owned company walks away from ammonia and associated CCS projects after cooperation agreement expires
2 February 2023
Roehm eyes carbon capture for German chemical plants
Chemicals company contracts Norway’s Aker Carbon Capture for feasibility study of project to deploy two capture facilities
2 February 2023
Spirit unveils major UK offshore carbon storage project
Centrica joint venture outlines plan to convert two Irish Sea gas fields into storage hub with potential to develop blue hydrogen cluster
1 February 2023
Investors warn against carbon removal
UN-convened alliance of financial institutions demands focus on carbon mitigation rather than removal
1 February 2023
Offsets standards body refutes media’s Redd+ claims
Studies underpinning recent reports are flawed, according to technical review published by Verra
31 January 2023
Deep emissions cuts drive CCUS to emerging economies – BP
India and China lead CCUS deployment under optimistic emissions reduction scenarios set out by oil major
31 January 2023
Petronas partners with ExxonMobil on CCS projects
Agreement adds to growing list of carbon-capture alliances forged by Malaysian oil and gas company
30 January 2023
Core carbon principles could boost voluntary market
Integrity Council for the Voluntary Carbon Market to launch finalised Core Carbon Principles for credit programmes and projects, the body’s chair tells Carbon Economist
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