A recent article in Forbes magazine, written by a senior commentator on climate change, highlighted the fact that CCS (carbon capture and storage) is gaining momentum as a desirable option to mitigate global warming. While the news was highly encouraging, the proposed surge of 44% growth in planned CCS installations worldwide is still well short of the required number needed to ensure the world can achieve net zero carbon emissions by 2050.
According to the most recent Global CCS Institute report, there are 196 CCS projects in the pipeline. Thirty are in operation, 11 are under construction and 153 are in the development stage. The US is leading the charge in CCS technology installations, with 34 new projects.
The US Department of Energy has become a significant influencer in the rise of CCS technology, in collaboration with the Office of Fossil Energy and Carbon Management, which has its eyes squarely focused on the cement industry.
Hard to abate sectors are building CCS into their futures
The cement production industry is firmly on the radar of CCS as the most viable option to maintain the health of this critical industry while decarbonising its emissions.
The cement production industry is vital to the global community. Cement is the building block for any society and an essential building material, particularly in developing nations. The product has much to offer in the decarbonisation space, and CCS technology is the only technology that can make a significant contribution towards decarbonising the sector.
Cement manufacturing produces chemical reactions that release carbon dioxide (CO2) into the atmosphere. Retrofitting a cement plant with CCS technology achieves a notable reduction in these emissions.
Additionally, a great deal of development is underway in repurposing the finished product as a storage facility for CO2, reducing the financial position of transport and storage.
The Asian market is getting on board
Further adding to the rise and credibility of CCS as a significant technology in the race to net zero emissions, global giant Shell recently announced it had signed a memorandum of understanding (MoU) with Brunei Shell Petroleum to explore carbon transport and storage options in Brunei and Singapore. This initiative could potentially form part of a CCS hub in Southeast Asia.
Aw Kah Peng, chairman of Shell Companies in Singapore, said, “It (CCS) also offers a way to reduce emissions from hard to decarbonise industries, such as those found on Jurong Island. This will help Singapore cut its carbon footprint as we transition to a lower carbon economy.”
With the increased activity in developing CCS infrastructure in developed nations, Australia is in a unique position to leverage the R&D and join a global movement that is utlising carbon capture and storage as a viable, scalable and successful carbon emission technology. The advantages of CCS are significant and are highly attractive for hard to abate sectors.
Many economic levers can make CCS a good decision
The team at CCS Energy has the expertise to work with the hard to abate sectors on the implementation of CCS, enabling them to forge a sustainable future that is healthy for the planet and good for their prosperity. Wind, solar or hydro technologies may not be suitable options, and CCS is in a perfect position to fill these gaps. Looking at CCS takes a trained and qualified eye, and the team at CCS Energy can discuss your business’s suitability and provide options that may surprise you.
CCS Energy is committed to forging your path toward net zero emissions. Our expertise can help clients set realistic targets and tap into additional asset value through carbon offset mechanisms available through various global emission trading schemes.
Our team members are CSS experts and well engineers, passionate about identifying efficient and cost-effective transition technology to capture and store carbon and reduce your operation’s carbon footprint.
With years of technical experience in the petroleum industry, we can provide all aspects of technical design, project management and regulatory administration.