BP sees key role for CCUS in global decarbonisation
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
Investment in CCUS capacity could pivot sharply towards China, India and other emerging economies between 2035 and 2050 if the world acts to cut emissions in line with the Paris climate goals, according to BP’s latest Energy Outlook report. More than 70pc of global capacity could be located in China, India and other emerging markets by 2050 under BP’s Accelerated and Net Zero scenarios, which respectively envisage CO₂e reductions of 75pc and 95pc relative to 2019 levels by mid-century. “This requires a very rapid scale-up of CCUS in these countries relative to their historical levels of oil and gas production,” BP says. Under the Accelerated and Net Zero scenarios, the “vast majority” of CCU
Also in this section
9 September 2024
Addition of CCS was a factor in court’s decision to overturn FERC’s authorisation for NextDecade’s Rio Grande LNG project
2 September 2024
Recently finalised investment tax credits have brought much-needed clarity for Canadian CCS developers, but carbon price uncertainty remains a concern
29 August 2024
Use of captured carbon to make synthetic fuels merits more attention from investors and policymakers
22 August 2024
C-Questra applies for onshore storage permit for site in Grandpuits as part of project to establish highly efficient DACS value chain on French soil
