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Carbon Capture, Utilization and Storage – Lynchpin for the Energy Transition
The energy transition will require a number of new technologies, none more critical than the broad commercial deployment of carbon capture, utilization and storage, or CCUS. The ability to decarbonize the existing energy value chains in the oil and gas, petrochemical and electric power industries is essential both to immediately impact emissions and to create a commercially sound pathway to a sustainable energy future. The International Energy Agency (IEA), the Intergovernmental Panel on Climate Change (IPCC) and the U.S. Energy Information Administration (EIA) have all recognized CCUS as critical if we are to achieve the necessary climate targets through reduced emissions. CCUS and the required infrastructure will also provide the foundation for a future clean-energy hydrogen economy, a lower-carbon petrochemicals circular economy and a decarbonized electric power grid.