The updated Technology Roadmap shows how CCS can contribute a significant one-sixth of the CO2 emission reductions required in 2050 from the energy sector to meet the climate goal. To do that, the IEA publication calls for strong action by governments and business to construct a new industry capable of capturing and storing about 7 gigatonnes (Gt) of CO2 in 2050. By comparison, today’s global gas industry produces around 2.5 Gt of natural gas annually.
The current decade is critical for moving CCS beyond the demonstration phase, the report says. A budding CCS industry requires significant investments to prepare the technology and infrastructure. Technology Roadmap: Carbon capture and storage 2013 Edition explains the next steps industry and governments must take to develop strong business models, to implement incentive frameworks and mobilise the necessary financial resources to drive cost-effective CCS deployment.
The task is challenging but realistic, it continues, and putting 30 or more large-scale CCS projects on line by 2020 will be an important milestone on this journey.