Carbon Capture, Utilization, and Storage (CCUS) Gains Momentum: A Key Technology for Decarbonizing Hard-to-Abate Sectors

Carbon Capture, Utilization, and Storage (CCUS) is gaining traction as a crucial technology for decarbonizing industries. The UK has recently signed major carbon capture deals, including the Northern Endurance Partnership and Net Zero Teesside Power, unlocking £4bn in contracts. CCUS captures CO₂ emissions from sources like power plants and refineries, storing them underground or repurposing them for industrial applications. The IEA projects CCUS capacity will grow 35% by 2030, potentially capturing 435 million tonnes of CO₂ annually. Challenges remain, including high costs, infrastructure needs, and public perception. The UK government has committed up to £21.7bn over 25 years to support CCUS, and the EU's Net Zero Industry Act requires oil and gas companies to store at least 50 million tonnes of CO₂ annually by 2030. Projects like the Acorn Project in Scotland demonstrate the potential for public-private collaboration. The global CCUS market could reach £260bn by 2050.