CCS could be ‘trillion-dollar industry’ – Baker Hughes AM 2021
Developing carbon capture and storage will be essential to the oil and gas industry remaining relevant
Successful development of carbon capture and storage (CCS) is going to be vital to achieve Paris Agreement targets, according to Daniela Abate, new energy solutions platform leader for Baker Hughes. Achieving Paris Agreement targets will require increasing the capacity of clean energy by a factor of about 40 over the next two decades, Abate told conference delegates at the Baker Hughes annual meeting. “CCS is vital to the development of the hydrogen economy because it will enable the deployment of blue hydrogen production,” she said. “It is also an opportunity as it is a trillion-dollar industry waiting to be born.” However, Abate also acknowledged that, without CCS, the oil and gas industry
Also in this section
21 March 2025
European Hydrogen Bank auction is four times oversubscribed, while industry remains on pause in US amid IRA subsidy uncertainty
21 March 2025
The country is engaging with potential investors from North America and China as it refines its auction process to reflect shifting dynamics in green hydrogen, Hydrom’s managing director tells Hydrogen Economist
13 March 2025
Government awards €1.21b of funding to seven large-scale projects as it chases capacity target of 12GW by 2030
12 March 2025
Speakers at this year’s CERAWeek conference noted the growing interest in green hydrogen, but hurdles such as cost remain to its adoption at scale
