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
Also in this section
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project