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The Carbon Capture Boom Is Starting to Crack
['Felicity Bradstock', 'Felicity Bradstock Is A Writer', 'Journalist Based In Mexico City. She Writes For Energy Websites', 'Covers Several Other Industries', 'As Well As Writing', 'More Info']
OilPrice.com Daily News Update
Carbon capture and storage (CCS) technology grew in popularity during the Covid-19 pandemic as several governments and private companies pledged to support a green transition.
CCS technology is used to capture carbon dioxide at emission sources, so it can be transported and stored or buried in a suitable underground location.
In 2025, the World Economic Forum predicted that the CCS industry would grow fourfold by the end of the decade.
In May, Germany launched a $5.7 billion Carbon Contracts for Difference scheme that aims to promote and support CCS and carbon capture and utilisation (CCU) projects.
Meanwhile, in Europe, the think tanks Agora Industry and Oeko-Institut, estimate the cost of carbon capture, transport, and storage at between $170 and $340 a tonne.