Right this moment is Monday, July 8, 2024.
A variation of CCS is CCUS, which stands for Carbon Seize, Utilization and Storage.
Right this moment we cowl BloombergNEF’s (BNEF) article “CCUS Market Outlook 1H 2024: Trough of Disillusionment” (CCUS Market Outlook 1H 2024: Trough of Disillusionment).
In accordance with BNEF, “After two years of consecutive and dramatic growth, activity in the carbon capture industry is starting to slow in key markets. The United States remains the largest player, with 39% of the market in terms of proposed capture capacity through 2035, despite delays due to pending 45Q.”
Anticipating that tomorrow we are going to deal once more with type 45Q, readers of Carbon Credit score Markets already know one thing about it and different incentives, particularly after the article “There are fortunes to be made in the “gold rush”“carbon capture”, from the beginning of 2023.
Making specific reference to the United States, United Kingdom, Canada, Netherlands, Australia, China, Norway and Brazil, BNEF reports that the total proposed carbon capture capacity to be installed by 2035 will reach 424 million tonnes per year.
With major oil and gas companies pioneering this market, in 2023 alone, investments in carbon capture projects and technologies reached US$11.3 billion.
From a technology perspective, BNEF states that “capture technologies such as liquid adsorption will continue to dominate the market throughout the decade. However, the technology landscape is beginning to fragment. Solid adsorption, especially metal-organic networks (in English: “Metal-Organic Frameworks”) “The Cement CO2 Capture Initiative is gaining momentum as technology companies come together. These new technologies will help reduce capture costs and are likely to expand by 2035.”
Reference can be made to the biggest direct air seize facility that started operations in Might, a significant milestone. We shall be posting about this undertaking within the coming days.
Click on on the picture beneath for the article “CCUS Market Outlook 1H 2024: Trough of Disillusionment”.
BNEF shoppers can entry the complete report.
