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Carbon capture and storage could address 42% of world’s emissions, report finds

Carbon capture and storage (CCS) solutions could address about 42% of the world’s total dirty footprint, Norwegian intelligence firm Rystad Energy said in its monthly Energy Transition Report. The release came as the adaptation of renewable energy technologies is accelerating, even during the pandemic, and three contenders – carbon capture and storage (CCS), battery storage and hydrogen – have begun a competitive race to reduce emissions. After analyzing the full scope of global CO2 emissions, Rystad has concluded that CCS solutions could address about 42% of the world’s total dirty footprint, but will likely not reach its full potential, as competing hydrogen and battery societies will also target their fair share of the global pie. The core applications for CCS are within natural gas processing, power generation, hydrogen production (steam methane reforming or SMR), and industrial processes. Today, the vast majority is related to natural gas processing and hydrogen production for use in refining and fertilizer production. Not surprisingly, we find the largest CCS potential in China, India and the US, where power and combustion outweigh process emissions. The power sector, although significant, is less likely to utilize CCS than industry, as renewable energy – given the fast decline in ...

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