Carbon Capture and Storage Cluster Projects: Review and Future Opportunities

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Source:
International Energy Agency
Authors:
Mike Haines (Cofree Technology Ltd)

Based on a review of relevant literature, the authors of this report examine existing carbon capture and storage (CCS) projects and consider future opportunities by identifying gaps, risks and challenges faced by regions that are developing CCS clusters. As part of the review, the authors compares CCS business models. Among their findings are that enhanced oil recovery applications are the most successful, CCS cluster organizational longevity is an obstacle, upfront CCS infrastructure investment is critical to enabling finance and international investment is key to establishing CCS in the best cluster locations. The authors recommend establishing business workshops with an orientation to customers and revenue as a means to foster development. They also advocate for a review of contracts and financial instruments that could enable long term investments with internationally transferable benefits.

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