From carbon capture to utilization: What can we learn from emerging technologies?
https://arab.news/nnga8
With significant improvements in capture, storage and utilization technology, carbon capture is a very important tool in the road to net zero emissions. Carbon dioxide emissions are the largest contributor to global GHG emissions which primarily come from the burning of fossil fuels for energy, transportation and industrial processes. As per IEA, the energy-related CO2 emissions grew by 0.9 percent to over 36.8 Gt in 2022, and this at a time when the global economy hasn’t been at its best. It’s important to note that with full momentum in economic growth (hopefully in the coming years) where certain regions may be taking the lead like the Middle East, there is a need for parallel planning on reducing GHG emissions.
The race to net zero is simply not possible until industry actors in energy and transportation, like steel and cement, start to capture carbon in their processes. Thanks to technologically advanced methods it’s very possible to capture carbon which can either be permanently stored in underground geological formations or can be converted into making other low carbon products such as fuels, chemicals, or building materials or fuels.
The carbon capture pathway has started to make more sense with every passing day from the perspective of both cost and improvement in technology. Many examples of Carbon Capture, Utilization, and Storage (CCUS) are in play from direct air capture to permanent storage in saline and depleted reservoirs. However, the discussion should now be about scaling, and the same must be supported by the right eco system, stakeholder buy-in, and policy frameworks that can help accelerate adoption of carbon capture technologies. Enabling the widespread use of carbon capture will certainly help combat climate change. A recent study by the Center for Climate and Energy Solutions found that carbon capture, if executed effectively, could reduce global greenhouse gas emissions by 14 percent by 2050. When combined with other carbon reduction measures, carbon capture is one of the most crucial pieces in the puzzle of mitigating climate change. Indeed, a recent intergovernmental panel on climate change (IPCC) report stated that carbon capture technologies are ‘unavoidable’ in global emissions reduction plans.
The carbon capture pathway has started to make more sense with every passing day from the perspective of both cost and improvement in technology.
Ayla Majid
To reduce global GHG emissions, significant investments are committed toward transition to clean energy, energy efficiency, EVs, sustainable agriculture etc. But carbon capture and storage doesn’t make it to the top merit list of discussions on investment, simply because the ROI often is not considered to be viable. This is where policy and regulation can play a huge role. Additionally, collaboration is key to make projects viable such as that of CCUS.
A CCUS hub is a strategic infrastructure and collaborative initiative that captures, utilizes CO2 emissions from multiple industrial sources and then either stores or utilizes the captured CO2 into another process. A great example is the INPEX-led Bonaparte CCS assessment joint venture in Australia, which will act as a CCUS hub, and a lead toward low carbon fuels. A model such as the Bonaparte hub is a great example of how carbon management through cross region collaboration can be implemented, in this case Japan, Singapore, Australia to name a few.
Aramco is also leading the way in the Middle East with its Jubail CCUS hub to capture up to nine million metric tons of CO2 per year, or testing a mineralization technology demonstration project in Jazan Economic City.
Technologies like that of Lanzatech for CO2 conversion of waste carbon into materials like fabrics, packaging, and other products, or carbon mineralization by the likes of Carbfix and 44.01 are absolutely ventures in the race to zero.
As the major oil and gas players convene in ADIPEC taking place in Abu Dhabi next week, a significant amount of discussion will be focused on decarbonization and creating a holistic ecosystem for carbon management. There will certainly be a lot of expectations on announcements. Earlier this year ADNOC already announced its allocation of USD 15 billion toward low carbon solutions. Moving forward, the decarbonization pathway requires a shared commitment and collaboration of the energy industry, technology enablers, climate finance and government players leading to a policy framework to make accelerated deployment of CO2 capture projects. The Middle East has great potential for being a CCUS and circular economy hub.
- Founder & CEO of Planetive, with financial advisory and governance experience across energy and infrastructure sectors. Sits on many local and global boards. Sustainability advocate. Serving on the Global Future Council on Energy Transition of the World Economic Forum. Young Global Leader - WEF. Eisenhower Fellow.
