March 15, 2023
•News
External Publications
Climate Change
[DOWNLOAD THE FULL REPORT HERE]
Abstract
While developments in the capturing of carbon have historically garnered much attention, meeting the objectives and aspirations of the Paris Agreement will require a (shared) CO2 transportation and storage infrastructure that can service multiple sectors of the economy. In some areas, the use of CO2 in enhanced oil recovery (EOR) has spurred development of such infrastructure but this opportunity is not available to all and the scale of CCS deployment in coming decades requires much greater access to non-EOR storage resources. A growing body of research is examining various support models that could incentivise CCS. Concepts such as ‘splitting the chain’, or tailoring transportation and storage infrastructure development to help de-risk capture project decision-making, have emerged, along with consideration of various public/private shared investment models.
This policy brief adds to the emerging ‘chorus of voices’ on the importance of transportation and storage infrastructure development in facilitating global CCS deployment. The brief highlights the challenges that will have to be addressed to build out CO2 transportation and storage infrastructure to the scale necessary to meet global climate ambitions and recommends a number of focus areas for policy development and enhancement.
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