Last Update 11 July 2023

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

As of March’23 550+ CCUS projects are planned to be commissioned by 2030 across distinct countries across the globe. Of the total projected projects nearly 231 projects are for dedicated carbon capture only & 108 projects are full chain CCUS projects that cover those projects where CO2 is transported from one capture facility to one injection site , typically involving a single operator. Approx. 67 projects are for transport & storage purpose, while 51 are for dedicated storage.

The frontrunner industry applications/segments that are anticipated to augment large number of CCUS projects globally are power & heat, hydrogen, transportation. It is pertinent to note that about 83 upcoming CCUS projects are power & heat based, while 73 projects shall be hydrogen/ammonia driven. Cumulatively transport segment shall augment about 112 CCUS projects (includes both dedicated CO2 transport and CO2 transport plus storage)

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

American region is the frontrunner of global CCUS development. The region is likely to witness approximately 256 getting commissioned by 2030 with United States being the largest contributor. The US is anticipating more than 180 projects seeing commissioning by 2030, followed by Canada with 62 projects & Latin America contributing 14 projects.

Over 150 projects shall be commissioned across the Europe by 2030, with United Kingdom (UK) accounting nearly 66 of them. France & Netherland together contributes 40 upcoming projects.

Australia has announced nearly 30 CCUS projects, works for 03 of them have already begun. About 08 of the 30 CCUS projects are hydrogen/ammonia based.

Houston’s large base of industry and Fortune 500 companies is well positioned to lead the energy transition

Houston’s large base of industry and Fortune 500 companies is well positioned to lead the energy transition across multi green technologies including hydrogen, CCUS, circular plastics & power management. As of April,23 about 165 CCUS projects of capacity over 228 Mt CO2 are anticipated to be commissioned in the by 2030 & safely half of these projects are anticipated across the Gulf coast region. Louisiana & Texas being the frontrunners of this development shall host commissioning of more than 60 projects till 2030.

Nearly 30% of the total upcoming CCUS projects in the US shall be through Biofuels segment, while 15% of the projects are dedicated to the power & heat segment and 13% are from the hydrogen/ammonia segment . Of the total planned projects, 84 projects are anticipated to be for carbon capture only, while 50 are full chain CCUS projects.

India holds potential to be an emerging hub for CCUS market

The potential of CCUS is concentrated in the Asia–Pacific region. The region has more than 1,300 emitter companies and more than 20 potential hubs. According to Mckinsey , more than 60 percent of future CCUS abatement is predicted to come from the region. However, unlocking CCUS potential in Asia–Pacific is not an easy task. To realize its potential, the region needs to deliver exponential growth: at least 450 times its current operational CCUS projects (only 10 projects are operational). It is also characterized by inequitable access to viable domestic underground storage, and varying levels of regulatory maturity.

According to a joint study done by Global Greenhouse Gas Emissions – EDGAR -Joint Research Centre, European Commission –Netherlands- Environmental Assessment Agency, about 05 potential CCUS hubs (clusters of hard-to-abate industries such as -  cement, O&G, power, steel, processing industries etc.) are identified in India that can be transformed into a mature market. These are Paradip, Vizag, Pune, Jamnagar & Barmer.

- Communications Team


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