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

The scale-up of the carbon management sector in the US represents a “once in a generation” investment opportunity worth up to $100bn by 2030 and $600bn by 2050, the US Department of Energy (DoE) says in a new report. The US will need to capture and store 400–1,800mn t/yr of CO₂ by 2050 to reach its transition goals, mainly through the deployment of CCUS and carbon dioxide removal (CDR), the DoE says. The US’ current capacity of more than 20mn t/yr is only about 1–5pc of the required 2050 level. “Industry is poised to allocate billions of dollars in capital towards carbon management technologies, driven by industries with attractive economics for CCUS, like ethanol, natural gas processing [an