Quarterly Trends Report

Q3 2021: carbon capture "turning a corner"

  • Multi Asset
  • Energy
  • North America

Several factors are igniting fresh momentum in carbon capture and storage (CCS), the topic of many Third Bridge Forum Interviews in Q3 2021.

Although not a new concept, the industry is being stimulated by pressing global climate targets and investment incentives, namely the US’ 45Q tax credit. Over 20% of global oil and gas production is covered by 2050 net-zero commitments, with CCS expected to play a role in every case, according to the International Energy Agency.2 Indeed, CCS is becoming “something that people are looking at as necessary, not simply studying it, and that’s really what’s turned the corner”, a director at the University of Houston told Forum.

Deployment of CCS is likely to accelerate as public and private acceptance of it grows and lower-cost capture technologies are brought to market. At present, there are three main ways in which CO2 is captured from industrial and power generation flue gas: pre-combustion, post-combustion and oxy combustion. The most common process is post-combustion, whereby an amine is used to absorb CO2 after stripping the gas of unwanted chemicals. 

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