Opportunity Mapped across Global Geographies for Carbon Capture Utilization & Storage (CCUS) Projects

Globally 550 + CCUS projects of cumulative capacity above 1200 Mt CO2 of are anticipated to be commissioned by 2030

Nitika Sharma, VP- Corporate Strategy & New Business, of Eninrac Consulting says “Europe is emerging as a largest global carbon market with about 200+ projects likely to see commissioning 2030. United Kingdom (UK) commands the CCUS development in Europe & is a frontrunner to the carbon capture initiatives for transforming it into a wholesome market. As of April 2023, more than 65 CCUS projects have been planned to be commissioned across UK by 2030. BP,ADNOC,Mitsubishi, Shell, Total, Semcorp etc. are some of the global players that are leading this development. Across the English Channel from mainland Europe, the UK has pioneered several CCUS hub and cluster projects. These are made up of a group of local CO₂ emitters that use their proximity to share common CCUS infrastructure to reduce emissions. The Zero Carbon Humber project in the UK’s North East aims to become one of the world’s first net zero industrial regions, for example, combining oil refining, steelmaking, chemical and cement production. Working together, they can unlock CCUS’ local potential by capturing carbon from both natural gas and biomass-fired power generation and hydrogen production, which will be piped to secure storage sites beneath the North Sea. As part of the Zero Carbon Humber cluster, Mitsubishi Heavy Industries (MHI) is working with Drax to provide carbon capture services to its bioenergy power station near Selby.The project aims to permanently remove 8Mt of CO₂ per annum from the atmosphere. In doing so Drax Power Station aims to become one of the largest sources of Carbon Dioxide Removals (negative CO₂) in the world.

India too holds CCUS potential, nearly 61% of the CO2 emmisions in the country are from hard-to-abate industries (like steel,refineries/processing,cement etc.) & thermal power generation plants. Conventional electricity generation standlone drives 30% of the carbon emissions in the country. India presently has 250 + operational thermal power plants with installed capacity 237 GW (as of May'23).
Of this capacity, 205 GW is coal based, nearly 36% of this capacity lies across western region states. Western region states - predominantely Gujarat, Maharashtra & Chattisgarh holds significant share in India's crude steel production as well accounting 35% of it.  Further, this region is also home to nearly 85 operational cement production units, driving 26% of India's cement production.

This clearly signifies an opportunity for developing CCUS clusters. Consequently, other regions/states in India can be evaluated for scaling possible CCUS hubs/clusters. The rationale for cluster developments is clear when one considers the abatement impact CCUS could offer to concentrated industrial emitters across India, and the economic benefits of shared transport and storage infrastructure. Companies could form partnerships and lean forward together, creating materiality to increase government buy-in, accelerating technology development, bringing together capabilities across the value chain, and de-risking execution.”

US, Canada,UK,France, Netherlands, Australia – some of the key frontrunner countries for CCUS development