Achieving a net-zero future is a challenging task for all countries around the globe. The problematic pieces of the energy transition jigsaw need to shrink as renewable energy sources and green solutions continue to be explored, expanded and nurtured through new investments.
To tackle the problem of CO2 emissions reduction and stop global warming, European Union yesterday reached a provisional deal to raise the share of renewables in its final energy consumption to 42.5% by 2030, under the revision of the Renewable Energy Directive (RED).
A massive scaling-up and speeding-up of renewable energy across power generation, industry, buildings and transport will reduce energy prices over time and decrease the EU’s dependence on imported fossil fuels, according to the European Commission.
Carbon capture and storage (CCS) has emerged as an important pathway to contribute to the global CO2 reduction goals and support energy transition efforts.
Last year was a bumper year for carbon capture, utilisation, and storage (CCUS), according to the International Energy Agency (IEA), as more than 140 new projects were announced, ramping up planned storage capacity by 80 per cent, and capture capacity by 30 per cent.
As the industry struggles to keep pace with the new technologies and soaring costs, CCUS is expected to act as a “linchpin” and contribute to global decarbonisation efforts.
Since governments and companies have recognized that reaping benefits of deploying CCUS to meet decarbonisation goals hinges on the timely roll-out of CO2 management infrastructure, countries around the world have committed over $6 billion in the development of CO2 transport and storage infrastructure since 2021, including in the United States , the European Union , and Australia .
The week behind us saw many governments and industry players recognizing the importance of these technological processes.
For example, the UK Government has selected eight successful bidders in the second phase of the carbon capture, utilisation and storage cluster sequencing process to proceed to negotiations for support through relevant business models.
The eight projects are said to represent a range of innovative CCUS technologies that have the potential to accelerate the UK’s decarbonization ambitions, kick-start the hydrogen economy, realize economic benefits across North Wales, North-West England, and the East Coast of England.
Meanwhile, UK’s neighbour, Norway, has awarded two new exploration licenses for CO2 storage on the Norwegian continental shelf in the North Sea to four companies. The two exploration licenses are located in the southern part of the North Sea. The eastern license is offered to Aker BP and OMV Norge, while the northwest license is offered to Stella Maris CCS, a partnership of Wintershall Dea Norge and Altera Infrastructure Group.
The process will normally end with a demand that an investment decision on the realization of CO2 storage is made, and that a plan for development and operation (PUD) is submitted or the area is relinquished.
CCS in the maritime sector
The large quantities of carbon dioxide will need to be transported from capture to storage sites and this will be only possible either by pipelines or vessels, or a combination of both. That is why many shipping companies are entering the CO2 transportation market, with liquid CO2 (LCO2) carriers playing an important role in transport.
This week, Japanese shipbuilder Mitsubishi Shipbuilding, part of Mitsubishi Heavy Industries (MHI) Group, launched a liquefied CO2 transportation demonstration test ship intended for carbon capture, utilisation and storage.
The launching ceremony for the LCO2 carrier, dubbed the world’s first , was held at the Shimonoseki Shipyard of Mitsubishi Shipbuilding Corporation. ENAA, Kawasaki Kisen Kaisha (K LINE), NGL, and Ochanomizu University will accelerate their research and development of the LCO2 transportation technology and contribute to the reduction of the cost of CCUS technology and realization of LCO2 safe large-scale long- distance transportation.
The announcement about the keel-laying ceremony was followed by MHI revealing that it has entered into an agreement with compatriot Osaka Gas to conduct a feasibility study on a project to develop a CO2 value chain for CCUS. The agreement includes transporting CO2 captured in Japan to overseas, utilising it to produce e-methane, synthetic gas produced through methanation, and storing it underground.
Another world’s first for carbon storage from the shipping market comes from China. China Classification Society (CCS) has issued approval in principle (AiP) to Jiangnan Shipbuilding for a new low-carbon emission very large gas carrier (VLGC) equipped with a carbon capture system.
The conceptual design of this VLGC is based on the liquefied petroleum gas (LPG) dual-fuel ship type with the largest cargo capacity in the world, according to the company.
“The completed development of this new low-carbon VLGC provided with CCUS system presents an emerging technology with large emission reduction potential in addition to the traditional energy-saving & emission reduction measures and the routes of application of alternative fuel. It also lays a solid foundation for onboard application of the shipborne carbon capture system,” CCS concluded.