Rystad Energy research predicts that over 90 million metric tonnes per annum of CO2 will be shipped by the end of the decade, requiring 48 terminals to handle the import and export of the gas.
ccording to Rystad Energy, the global carbon capture, utilisation, and storage (CCUS) market expands, but a significant hurdle is the lack of available transportation and storage networks for projects. Rystad Energy finds that carbon dioxide (CO2) transportation is turning to the seas as emitters seek flexible methods to carry collected carbon to offshore storage facilities, with a fleet of 55 vessels needed by 2030.
CO2 shipping is the most flexible solution for carrying carbon emissions over long distances at a relatively low cost. Alas, the shipping industry’s heavy use of conventional fuels like diesel and LSFO raises environmental concerns. Long-distance ships could emit 5% of total CO2 emissions.
Switching to LNG could reduce emissions by 18%, while blue methanol could reduce emissions by 20%. Blue ammonia could reduce emissions by up to 80%.
In an ideal world, CO2 tankers would use renewable fuels with no associated emissions. However, these fuels are too expensive now to be economically viable.
… said Lein Mann Bergsmark, vice president of supply chain research, Rystad Energy
Rystad Energy also finds that the North Sea is set to take center stage in the CO2 shipping surge due to its proximity to major populated areas in Northern Europe.