A policy framework for carbon capture, use, and storage (CCUS) is a set of rules, laws, and incentives set up by the government to encourage the use of CCUS technologies. It has rules about how the project should be run, how safe it should be, and who is responsible for what. Investment is encouraged by tax credits and grants, and CCUS products are improved by funding for research and development. Building up infrastructure makes it easier to move and store CO2. Sharing information and working together are made easier by international cooperation. The idea is to make it easier for CCUS to be used by a lot of people, reduce emissions, and meet goals for preventing climate change while moving to a sustainable low-carbon economy.

Carbon capture, utilization, and storage (CCUS) offers several advantages in addressing climate change and transitioning to a low-carbon economy. Firstly, it allows for the significant reduction of CO2 emissions from industrial processes and power generation, mitigating the impact of greenhouse gases on climate change. Secondly, CCUS enables the utilization of captured CO2 for various purposes such as enhanced oil recovery, manufacturing of building materials, or producing synthetic fuels, promoting resource efficiency. Lastly, CCUS provides a viable option for long-term carbon storage, preventing CO2 from entering the atmosphere. These advantages contribute to the decarbonization of industries, enhances energy security, and supports sustainable economic growth.

An example of carbon capture utilization (CCU) is the utilization of captured carbon dioxide (CO2) for enhanced oil recovery (EOR). In this process, captured CO2 is injected into oil reservoirs to increase the pressure and facilitate the extraction of additional oil that would otherwise be difficult to recover using conventional methods. The injected CO2 can remain underground permanently once the oil recovery process is complete. CCU in enhanced oil recovery not only increases oil production but also has the benefit of permanently storing CO2 underground. By utilizing captured CO2 in this manner, it serves a dual purpose of extracting valuable resources (oil) while simultaneously reducing CO2 emissions by storing it safely and permanently in geological formations. This demonstrates how CCU can contribute to both economic and environmental objectives.

Captured carbon dioxide (CO2) can be utilized in various ways within the framework of carbon capture, utilization, and storage (CCUS). Here are some common utilization methods: Enhanced Oil Recovery (EOR): Captured CO2 is often used for enhanced oil recovery, where it is injected into depleted oil fields to increase oil production. The CO2 helps mobilize and push out additional oil that would otherwise be difficult to extract using conventional methods. Carbonation: CO2 can be reacted with certain minerals or waste materials, such as fly ash or steel slag, to form stable carbonates. This process, known as carbonation, sequesters CO2 in a solid form, effectively storing it long-term. Chemical Feedstock: Captured CO2 can serve as a raw material for the production of various chemicals and materials. For example, it can be used in the manufacture of plastics, urea, or methanol. Synthetic Fuels: CO2 can be converted into synthetic fuels through processes like hydrogenation or methanation. By combining captured CO2 with hydrogen derived from renewable sources, synthetic fuels such as methane or even liquid fuels like methanol or dimethyl ether can be produced. Mineralization: CO2 can be mineralized by reacting it with certain types of minerals, such as olivine or serpentine. This process converts CO2 into stable carbonates that can be stored or used in construction materials like concrete. These utilization methods enable the captured CO2 to be utilized in a way that contributes to economic value, reduces emissions, and promotes the transition to a more sustainable and low-carbon economy.

The most common carbon capture methods include post-combustion capture, which involves capturing CO2 from flue gases after combustion; pre-combustion capture, where CO2 is captured prior to fossil fuel combustion; and oxy-fuel combustion capture, which burns fuels in an oxygen-rich environment to produce a concentrated CO2 stream. Post-combustion capture is commonly used in existing power plants and industries, while pre-combustion capture is prevalent in integrated gasification combined cycle (IGCC) plants. Oxy-fuel combustion capture is primarily employed in power plants. These methods are fundamental to carbon capture, utilization, and storage (CCUS) technologies and contribute to reducing greenhouse gas emissions.

While carbon capture technologies offer potential benefits, there are risks associated with their implementation. Firstly, there is a risk of leakage during the capture, transport, and storage of captured carbon dioxide (CO2), which could undermine the effectiveness of the process. Additionally, the long-term integrity of storage sites must be ensured to prevent CO2 leakage into the atmosphere. The use of certain capture solvents and chemicals may also pose health and environmental risks. Moreover, the high costs of carbon capture could divert resources from renewable energy and other sustainable solutions. Safeguarding against these risks requires stringent regulations, monitoring, and ongoing research and development efforts.

CCUS plays a crucial role in mitigating climate change by reducing greenhouse gas emissions. It enables the capture and storage of carbon dioxide (CO2) emitted from power plants and industrial processes that would otherwise be released into the atmosphere. By preventing CO2 from entering the atmosphere, CCUS helps in achieving significant emission reductions. Additionally, the utilization aspect of CCUS allows for the conversion of captured CO2 into valuable products and fuels, further reducing the need for fossil fuel extraction. CCUS acts as a bridging technology, complementing renewable energy sources, and providing a pathway towards a low-carbon future while transitioning to a sustainable and decarbonized economy.

The cost of implementing carbon capture and storage (CCS) varies depending on various factors, including the type of capture technology, the scale of the project, and the specific site conditions. Generally, CCS is considered a capital-intensive technology with relatively high costs compared to other emission reduction options. Estimates for the cost of CCS projects can range from $50 to $150 per tonne of CO2 captured. However, ongoing advancements, economies of scale, and supportive policies can help reduce costs over time. Furthermore, the cost of CCS can be offset by revenue from utilization of captured CO2 or through carbon pricing mechanisms and financial incentives provided by governments.

The current status of carbon capture, utilization, and storage (CCUS) deployment varies globally. While CCUS projects have been implemented in various industries, including power generation and industrial sectors, the overall deployment remains relatively limited compared to the scale needed to meet climate change mitigation goals. However, there is increasing recognition of the importance of CCUS in achieving net-zero emissions and transitioning to a low-carbon economy. Many countries and organizations are actively working to advance CCUS deployment and create supportive policy frameworks. Governments are providing financial incentives, implementing carbon pricing mechanisms, and investing in research and development to drive innovation and reduce costs. Future prospects for CCUS are promising. Ongoing technological advancements, such as the development of more efficient capture technologies and the exploration of new utilization methods, are expected to enhance the viability and economics of CCUS. Additionally, international collaborations and knowledge sharing are accelerating the deployment of CCUS globally. CCUS is seen as a critical component of the portfolio of solutions needed to address climate change, and its deployment is expected to increase significantly in the coming years as countries strive to achieve their emission reduction targets and transition to a sustainable, low-carbon future.

Carbon capture and storage (CCS) technology has some limitations. Firstly, it requires significant investment and operational costs, making it economically challenging to implement on a large scale. Secondly, the capture process itself consumes energy, reducing the overall efficiency of power plants or industrial processes. Additionally, finding suitable storage sites and ensuring the long-term integrity of storage reservoirs poses challenges. There is also public perception and acceptance concerns regarding the safety and potential leakage of stored CO2. Finally, CCS does not address the root causes of greenhouse gas emissions and does not eliminate the need for transitioning to renewable energy sources.

Top CCUS companies like Fluor, Shell, Mitsubishi Heavy Industries (MHI), and ExxonMobil are categorized as quadrant leaders, contributing significantly to the market.