$200B In Carbon Capture Investment Needed Over Next 10 Years

By 2034, the world will have developed carbon capture capacity of 440 millions tonnes per annum Mtpa while storage capacity will reach 664 Mtpa, requiring $196 billion in total investment, global energy data and analytics provider Wood Mackenzie has predicted.

that involves the offtake of carbon dioxide associated with Linde’s planned clean hydrogen project in Beaumont, Texas. Exxon will transport and permanently store as much as 2.2M metric tons/year of carbon dioxide each year from Linde’s plant. Two years ago, oil field services peer Schlumberger Ltd NYSESLB unveiled its SLB New Energy unit that encompasses carbon solutions including CCUS; hydrogen, geothermal and geoenergy, energy storage and critical minerals.

, is under construction in the Permian basin. is designed to extract 500,000 metric tons of atmospheric CO2 annually--laying the foundation for commercial-scale DAC deployment. Thankfully, Big Oil will be able to put some of that captured CO2 into good use--in their own oilfields. Calgary-based senior geological advisor Menhwei Zhao has conducted an AAPG Bulletin study regarding the use of CCS in Enhanced Oil Recovery EOR.

Source: News Formal (newsformal.com)

Carbon Capture And Storage Technology Decarbonization

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