Enlightened self-interest from those involved in hydrocarbons should lead to the support of technologies enabling the clean use of hydrocarbons, such as carbon capture and storage, and not to the defence of deniers and cranks.Prof. Nicholas Stern Chair of the Grantham Research Institute
The Boundary Dam CCUS project in Saskatchewan, Canada, which started operations in 2014, is providing critical experience to induce future cost reductions.
A recent feasibility study by the operators of the Boundary Dam project suggest that a second-generation capture facility could be built with 65% lower capital costs, at an overall cost of USD 45/tonne of CO2 and a CO2 capture rate of more than 90%.
According to the Global CCS Institute’s CO2RE database, nine CCUS power generation projects are currently in early development: four in China, two in Korea, one in each of the United Kingdom, Ireland and the Netherlands.
In addition, in 2018 the Oil and Gas Climate Initiative announced a partnership with several of its member companies to undertake a Front-End Engineering and Design (FEED) study on a gas-fired power plants in the United Kingdom.
The two large-scale power CCUS projects operational today and the nine projects in early development have a potential combined capture capacity of 18 MtCO2 per year. However, the capture and storage rate and the number of projects receiving final investment decisions would need to increase substantially to meet the 2030 Sustainable Development Scenario (SDS) level of 350 MtCO2 captured annually from power generation.
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