Carbon capture and storage remains firmly on the agenda for many countries globally, but in recent years the deployment of CCUS has emerged as a more viable concept offering a new approach to climate change mitigation.
That’s according to a new report by the Energy Industries Council (EIC) which also looks at CCUS as a centre pillar of the UK Government’s industrial strategy, clean growth and low carbon policies.
Speaking at CCUS 2019 earlier this week, Stuart Broadley, Industries Council CEO, said, “We need to learn the lessons from offshore wind more than decade ago, when opportunities were missed by the UK government to set a clear policy to invest to become a world leader in offshore wind technology, leading to a largely imported technology today.”
“We have missed the boat with offshore wind, but today have the exciting chance to be a primary global technology player in CCUS and hydrogen, and we should use the COP26 platform in November 2020 in Glasgow to declare this intention to the world.”
The EIC report highlights the technologies and processes across the CCUS sector, evolution of hydrogen and how CCUS can unlock its potential. Key finds of the report include:
Carbon capture could be the single largest contributor to decarbonisation with an emission reduction potential of 23 million tonnes of CO2 per year by 2050
CCUS exports could potentially be worth multiple billions of pounds per year in the UK by 2050, support tens of thousands of jobs across the engineering, procurement and construction services sector
A total of nineteen large-scale CCS facilities are in operation around the world, with four under construction and a further twenty projects in the development phase
“CCUS can play a critical role across the UK economy helping to decarbonise industry; generate low carbon power; and enable the production of low carbon hydrogen at scale,” said Oliver Barnes, EIC Senior Analyst and Author of the report.
“It provides an opportunity for the UK to develop a domestic supply chain, utilising the expertise of the existing oil and gas industry and new UK-based innovative carbon capture technologies, potentially enabling the UK to become a global leader in CCUS.”