Global participation in carbon capture and storage (CCS) is increasing in the effort to reach net-zero emissions by 2050, according to a new report from the Global CCS Institute (GCCSI), the Global Status of CCS Report 2020.
The report found the total capacity of CCS facilities operating and under development has grown by 33% worldwide over the last year alone. There are a total of 65 commercial CCS facilities in various stages of development globally.
However, the report warned, “deployment of the technology is not happening quick enough to reach 2050 climate goals. CCS facilities will need to increase by more than a hundredfold by mid-century, as but one part of how the world will reach carbon neutrality.”
The report highlighted that CCS can enable the production of low-carbon hydrogen at scale, particularly in regions where large amounts of affordable renewable electricity from hydrogen-producing electrolysis is not available and fossil fuel prices are low.
When it comes to this type of hydrogen production, Victoria has a significant competitive advantage due to its abundant, world-class coal resources and world-leading potential for CCS (via the CarbonNet Project), all within the Gippsland region.
ASEAN nations partner on CCUS technologies
NikkeiAsia is reporting that Japan, Australia, the United States of America and 10 members of ASEAN are partnering to commercialise technology making carbon capture utilisation and storage (CCUS) possible.
Carbon captured can be used as a feedstock to create new materials such as CO2 infused concrete and various industrial chemicals, creating new ways of storing carbon dioxide.
The ASEAN partnership will create ways to bury and reuse carbon dioxide in Southeast Asia to reduce CO2 emissions produced from energy infrastructure and industries.
The partnership is to be initiated in early 2021, after first being discussed among the member countries at East Asia Summit’s Energy Ministerial meeting in November.
CarbonNet Project update
The CO2CRC is CarbonNet’s lead research partner. Read more about how the CarbonNet Project provides a suitable CCS solution for a commercial HESC Project.
The CO2CRC’s Otway Storage Demonstration Project is getting ready to commence its Stage 3 CO2 injection activities. From November 2020 to April 2021, a total of 15,000 tonnes of CO2-rich gas will be injected into the subsurface beneath the Otway National Research Facility.
According to CarbonNet, successful application of these monitoring techniques is likely to translate into lower costs, higher quality of data and a smaller environmental footprint for CCS.