![]() Creating CCUS hubs can accelerate developmentĪ CCUS hub is a cluster of emission facilities that share the same CO 2 transportation and storage or utilization infrastructure. This article explores potential CCUS hubs, five emerging hub archetypes, and three key steps to accelerate the development of CCUS hubs. Developing cross-industry hubs that share CCUS infrastructure and resources across multiple companies could reduce the risks associated with the upfront investment capital that individual emitters may be unable to burden alone. For CCUS to reach levels needed to achieve net-zero commitments, lowering costs may be vital. 2 “ Scaling the CCUS industry to achieve net-zero emissions,” McKinsey, October 28, 2022. However, many, if not most, CCUS projects are economically challenged today, with high costs of capture for dilute point sources and a limited number of revenue streams available. Utilization has the added benefit over CCS of generating revenue to offset the cost of capture and transport. Future emission sources may exist near facilities that use captured CO 2 to create products such as fuels, chemicals, and building materials, and near oil and gas wells where they can be used for enhanced oil and gas recovery (EOR/EGR). Thousands of CO 2 point source facilities exist that could be suited to carbon capture and storage (CCS), with varying concentrations of CO 2 in the flue gas and differing proximity to storage sites, which can affect the viability for CCS for these facilities. The potential for CCUS is highly dependent on factors including the emissions source, industry, capture technology, transportation, as well as location and type of storage. There are two routes for captured CO 2: permanent storage (CCS) or utilization by converting into products (CCU). ![]() "We have always believed that global partnerships and cross-industry collaboration would be required to deploy Direct Air Capture infrastructure at scale."įriedmann said Carbon Engineering's headquarters and its employees will remain based at the company's Innovation Centre in Squamish.This article is a collaborative effort by Phil De Luna, Luciano Di Fiori, Yinsheng Li, Alastair Nojek, and Brandon Stackhouse representing views from McKinsey’s Oil & Gas Practice. "It will enable us to accelerate our mission to lead the world in the large-scale removal of carbon dioxide from the air and help advance our shift to a sustainable, net zero society," Friedmann said. In a statement, Carbon Engineering CEO Daniel Friedmann said the deal with Occidental will dramatically enhance the Canadian company's ability to continue developing its technology through widespread commercialization. Inflation Reduction Act contains generous subsidies for direct air capture projects, and in Canada, the federal government is currently hammering out details of its promised tax credit for carbon and direct air capture deployment.ġPointFive has stated it believes it can deploy 70 direct air capture facilities worldwide by 2035, under current compliance and market scenarios. While the technology is very expensive, increasingly aggressive climate policies by governments around the world are making its deployment more feasible. Unlike the more common form of carbon capture and storage (CCS) technology - which captures emissions from industrial flue stacks and sequesters them safely deep underground - direct air capture technology removes harmful C02 emissions directly from the air for safe storage underground.Īdvocates say direct air capture technology has the potential to not only reduce current greenhouse gas emissions, but also to begin removing the large quantities of CO2 emitted in the past that remain trapped in the earth's atmosphere. The plant under construction is expected to capture up to 500,000 metric tonnes of carbon dioxide per year with the capacity to scale up to 1 million metric tonnes per year. Calgary company ready to capture carbon in Squamish 'pilot plant'.
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