CCUS Vision Sets Out Plans for New Competitive Market in Carbon Capture, Usage and Storage

6th February 2024

The UK government has recently revealed a bold new plan aimed at fostering a competitive carbon capture market, bolstered by an unprecedented £20 billion investment. This initiative, dubbed the CCUS Vision, outlines a roadmap for establishing a thriving UK carbon capture, usage, and storage market by 2035, thereby generating employment opportunities and advancing the nation's commitment to achieving net zero emissions.

CCUS Vision sets out plans for new competitive market in Carbon Capture, Usage and Storage (CCUS) by 2035

Under the CCUS Vision, the UK aims to evolve from early-stage projects supported by government funding to a competitive market by 2035. This transition will empower UK enterprises to vie for the construction of carbon capture facilities and offer their services globally. Projections suggest that this endeavour could inject £5 billion annually into the economy by 2050, positioning the UK as a frontrunner in carbon capture technology while fulfilling its net zero objectives in a financially sustainable manner that alleviates the burden on taxpayers.

Carbon capture technology entails capturing carbon dioxide (CO2) emissions before they are released into the atmosphere and securely storing them underground, utilising voids created by oil and gas extraction. The UK holds a strategic advantage in this regard, owing to its distinctive geology, skilled workforce, and robust infrastructure as an island nation. Moreover, the North Sea presents ample storage capacity for up to 78 billion tonnes of CO2.

This initiative represents the latest stride in advancing CCUS technologies, which aim to sequester 20-30 million tonnes of CO2 annually by 2030 and create 50,000 jobs by the same year, backed by a substantial £20 billion investment. Simultaneously, the government is facilitating the expansion of the HyNet Cluster in the North-West and Wales, inviting more companies to join and contribute to the region's growth, thereby fostering additional employment opportunities and investment.

Ruth Herbert, CEO, Carbon Capture and Storage Association said: "We welcome the CCUS Vision published today, setting out a long-term strategy for the UK’s CCUS industry to be able to store over 50Mt a year by 2035 to support the decarbonisation of domestic industries and take advantage of export opportunities. It is great to see CO2 transport by ship, road and rail will be enabled from 2025 onwards, which will also support longer-term cross-border CO2 transport solutions."

Protea’s atmosFIR FTIR gas analyser has proven a valuable tool in research into the effective storage of Carbon Dioxide (CO2) in the North Sea. Carbon Capture and Storage (CCS) could be key in the reduction in Carbon Dioxide (CO2) from industrial processes. Protea’s range of gas analysers have been used both in research into emerging technologies for CCS, but will also play an important role in the regulatory emissions monitoring from installations of CCS.

#protea #emissions #monitoring #cems #ftir #gas #analysers #shipping #marine #carbon #capture