Nils Røkke: CCS is a must to meet climate targets


Carbon Capture and Storage (CCS) is one of the only technology solutions that can significantly reduce emissions from coal and gas power generation and deliver the deep emissions reductions needed across key industrial processes such as steel, cement and chemicals manufacturing, all of which will remain vital building blocks of modern society.

These technologies involve the capture of carbon dioxide (CO2) from fuel combustion or industrial processes, the transport of CO2 via ship or pipeline, and either its use as a resource to create valuable products or services or its permanent storage deep underground in geological formations.

CCS technology will play an important role in meeting energy and climate goals. According to the International Energy Agency (IEA), CCS accounts for 7% of the cumulative emissions reductions needed globally to 2040. This implies a rapid scale-up of CCS deployment, from around 30 million tonnes of CO2 currently captured each year to 2.3 billion tonnes per year by 2040.

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