CCS costs surge as trade war rattles developers
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
US President Donald Trump’s unpredictable global trade war is driving up CCUS costs by as much as 50% and upending contracts as suppliers and customers wrangle over tariff clauses, according to speakers at the Carbon Capture Europe Summit in April. “Since the [tariff] war started, I think there has been 30–50% inflation to most costs already,” Martijn Smit, vice-president for CCS and hydrogen market development at Norwegian state-owned energy company Equinor told the summit, organised by Leader Associates, in Amsterdam. “We have to deal with it. Maybe the steps we take at one go should be a bit smaller. That is that only adaptation I could answer today.” “Who is going to bear the unpre
Also in this section
1 April 2026
Emerging industry must work with policymakers to convince a broader pool of investors to buy into its long-term potential
12 March 2026
Role of world’s largest carbon cap-and-trade market under scrutiny as war in Iran threatens to drive EU energy costs to unsustainable levels
10 March 2026
Europe urgently needs to bring more projects to FID, as CCS investors warn they might divert capital to faster-growing regions
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
