Global Carbon Capture Projects Reach Key Milestones

The International Energy Agency (IEA) highlights significant progress in carbon capture, utilization, and storage (CCUS) projects worldwide. Over 140 CCUS hubs are now under development globally, more than three times the number seen in 2021. This shift from traditional full-chain projects to more modular approaches, focusing on capture, transport, or storage, aims to reduce investment risks and improve scalability.

In 2022, over 210 million tonnes of new CO₂ storage capacity were announced, surpassing previous years’ totals. Governments have committed more than USD 6 billion since 2021 to fund CO₂ transport and storage infrastructure, with projects underway in the United States, European Union, and Australia. A notable achievement includes the transport of CO₂ from Belgium to Denmark for injection into a depleted oil field in the North Sea, marking a significant cross-border step in CO₂ management.

These developments underscore the growing momentum of CCUS technologies, which play a crucial role in global decarbonization efforts, according to the IEA.