Carbon Capture and Storage International – An Overview
Carbon Capture and Storage is poised to play a big role in decreasing industrial CO2 emissions around the world.Global energy dynamics emphasize the necessity for CCS development.
- Global demand for energy will continue to increase. This will be driven by emerging economies and continued global prosperity. Forecasts suggest a 50% increase in global energy demand by 2030.
- We will need all sources of energy to meet this demand. This includes a continued role for fossil fuels including coal, oil and gas, along with emerging energy sources.
- Environmental stresses are increasing, particularly around CO2 and climate change. CO2 management actions will be needed by both energy producers and energy consumers.
In understanding these challenges the Intergovernmental Panel on Climate Change has declared that CO2 capture and geological storage is important because it offers the potential for greenhouse gas reductions during the next few decades while fossil fuels continue to dominate energy markets. Further, the International Energy Agency forecasts that CCS will contribute more than 10 GT (billion tonnes) of carbon dioxide emissions reductions in 2050.