Carbon Capture and Storage (CCS) facilities under development has grown 44% on year to 244 million tonnes per annum in the past 12 months, according to a new report from the Global CCS Institute.
As of September 2022, there are 196 projects in the CCS facilities pipeline, with 61 new CCS facilities added in 2022 alone. Globally, there are 30 CCS facilities in operation currently, which can capture and store around 43 million tonnes of CO2, the report said.
“In 2022, we’ve seen CCS becoming increasingly commercial and competitive in many countries. We expect to see more strategic partnerships and collaboration driving deployment, particularly through CCS networks,” Jarad Daniels, CEO, Global CCS Institute said during the launch.