CCS deployment is set for strong growth
CCS to gain momentum in 2023 – ING
US takes lead in emerging sector as enhanced policy support drives growth
Global deployment of carbon capture and storage (CCS) technology is expected to pick up speed in 2023, but growth will not accelerate significantly until 2025, when the completion of more projects is forecast to triple current capacity, according to analysis by Dutch bank ING. Of the CCS projects under development, only three—two in China and one in Australia—are expected to start up in 2023, increasing total operational capacity by 2.3mn t/yr, to 44.9mn t/yr. Operational capacity will rise to 150mn t/yr in 2025 and more than 250mn t/yr in 2030, according to ING’s forecasts, which are based on project announcements. 150bn t/yr – Projected CCS capacity in operation in 2025 Strengtheni
Also in this section
30 November 2023
Negative pricing has become more frequent in European energy markets, and GB markets are now experiencing a similar increase
29 November 2023
Preparations underway for inclusion of cement, aluminium and steel producers in world’s largest compliance market by 2030
28 November 2023
European Commission earmarks cross-border projects for funding and fast-tracks carbon management strategy as pressure grows to kickstart CCS sector
27 November 2023
Progress in decarbonisation but significant challenges lie ahead
