CCS in Power Generation: The Key to Mitigate Carbon Footprints for a Greener Future

Highlights:

• A brief on CCS technology
• A look into successful global CCS projects
• The UK government and its support for CCS projects
• Key initiatives by top players

As climate change continues to have devastating effects on the planet, scientists and policymakers are finding new ways to reduce the overall carbon emissions from different sectors. One promising solution to the problem of climate change is carbon capture technology. Carbon capture technology involves collecting CO2 emitting from industrial processes, transporting it to a storage location, and isolating it from the atmosphere. In power generation, carbon capture and storage (CCS) offers a promising solution to mitigate the environmental impact of burning fossil fuels. This process has been implemented in various forms across the globe.

Understanding the role of CCS in power generation

Power generation is one of the largest sources of carbon dioxide (CO2) emissions, contributing significantly to global warming. Despite the rising use of renewable energy, the reliance on fossil fuels such as coal and natural gas is there a major due to their reliability and availability. Therefore, integrating CCS technology into power plants is vital to reduce CO2 emissions while continuing to meet power demands globally

CCS involves capturing CO2 produced during the combustion of fossil fuels, transporting it to a storage site, and depositing it underground in geological formations. This process prevents CO2 from entering the atmosphere, effectively reducing the carbon footprint of power generation facilities.

Instances of successful CCS projects around the world

Over the past few years, several carbon capture projects have emerged around the world which have given positive results and can easily be replicated in different settings. Petra Nova is one of the most successful carbon capture projects globally, located in Texas, USA. The project was launched in collaboration between NRG Energy and JX Nippon Oil & Gas Exploration. In September 2023, JX Nippon, a Japanese energy company, bought NRG’s share of Petra Nova to expand its global reach and became the sole owner of the project.  The Petra Nova project captures around 90% of the CO2 emissions produced by the power plant, equivalent to 1.6 million tons of CO2 per year, which is then used for enhanced oil recovery (EOR). This project has demonstrated that carbon capture technology is sustainable and can be implemented at scale.

On the other hand, the Gorgon Project is a large-scale carbon capture project based in Western Australia. The project captures CO2 from natural gas production and stores it in underground reservoirs. The project is significant because it demonstrates that carbon capture technology can work on a large scale and in remote locations. The Gorgon Project captures up to 4 million tons of CO2 per year, which is equivalent to the emissions caused by around 800,000 cars.

The success of these projects shows that carbon capture technologies are an ideal way to mitigate climate change and generate benefits to the environment and society. Continuous efforts by industry leaders to make more effective projects in this field are expected to create immense opportunities for the CCS in power generation industry in the forthcoming years.

Reasons behind the growing support for CCS in the UK

Many supporters of this technology have long argued that industrial methods materials, such as cement production, the chemical, and steel industries are currently lacking alternatives to reducing greenhouse gas (GHG) emissions generated by the manufacturing processes themselves. Therefore, CCS has come out as an effective solution for these processes. Furthermore, from the perspective of the power generation sector, grids still depend on fossil fuels for a reliable and continuous electricity supply, even in countries where renewable energies have high penetration. Therefore, to achieve net-zero targets as quickly as possible, CCS is considered a viable solution.

Specifically in the UK, there are synergies that could be used to improve CCS credentials. Existing oil and gas infrastructure can be repurposed for CO2 transport and storage. In addition, many communities in the nation that relied on fossil fuel industries in the past could find new roles in the sector, bringing significant economic benefits in the future.

TotalEnergies’s pioneering initiative to achieve net zero emissions by 2050

In March 2024, TotalEnergies, a Texas-based energy exploration and production firm, acquired Talos Energy, a leading energy company focused on offshore oil and gas exploration and production in the United States. With this acquisition, TotalEnergies set a climate goal to achieve net zero emissions by 2050. By signing this agreement, the company focused on avoiding emissions, and implemented the best available technologies, developing industrial projects for carbon storage to address residual emissions. Among the assets acquired in the transaction is Talos’ stake in Bayou Bend CCS, a carbon transportation and storage solution possessing the capacity to store several hundred million tons of CO2.

Wrapping up, CCS is a groundbreaking technology that has potential to fight against climate change, offering a way to significantly reduce CO2 emissions from power generation. Furthermore, supportive government initiatives for funding R&D activities related to CCS technology are expected to create new avenues for the landscape significantly.

To gain more insights into the CCS in power generation industry, feel free to talk to our industry specialists today! They will also help you identify and mitigate risks associated with investments.

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