Strong support for CCUS in the hydrocarbon processing sector
- 84% of hydrocarbon professionals expect carbon capture, utilisation and storage (CCUS) will be a mainstay of their industry, and over half plan on installing CCUS solutions over the next decade
- Almost one third of respondents state that a full-service offering, where CCUS is provided as a service, makes carbon capture more attractive to their business
- Survey commissioned by Carbon Clean and conducted by Gulf Energy Information
A survey conducted by Gulf Energy Information has revealed that 84% of 145 respondents in the hydrocarbon industry expect carbon capture, utilisation and storage (CCUS) will be a mainstay of their industry. In addition, almost two thirds of respondents identified hydrocarbon processing plants, including refineries, as being most suited for CCUS deployment.
The survey was commissioned by Carbon Clean, a global leader in cost-effective carbon capture solutions, with respondents coming from a variety of sectors including refining, petrochemical, gas processing, LNG, and engineering.
Decarbonisation is of growing importance to these sectors, with just over 90% of respondents saying the reduction of carbon emissions is either a top three priority or an increasing priority within their business. CCUS will play an important role in delivering these decarbonisation ambitions – almost a third (32%) plan to install a CCUS solution in the next one to three years and 56% plan to install a CCUS solution over the next decade.
It is widely acknowledged that CCUS is crucial to achieving global net zero targets, but the pace of deployment must increase rapidly. The survey reveals that a full-service offering – where carbon capture, transport and storage are provided as a service and clients pay per tonne of carbon capture – is likely to have the biggest impact on demand for CCUS. Over 31% of respondents say it would make carbon capture attractive to their business. The provision of utilisation and storage options, a change in regulations/carbon taxes and decrease in cost were also selected as key factors impacting the appeal of CCUS.
Aniruddha Sharma, Chair and CEO of Carbon Clean said:
“The survey shows that the refinery and petrochemical industries are ready to play their part in delivering net zero and that they recognise the importance of CCUS as a means of achieving this. Urgent action is necessary and these sectors are incredibly well placed to benefit from CCUS, so it’s great to see over half of those surveyed expect to install a CCUS solution in the next ten years.
“Our modular technology, CycloneCC, is overcoming the traditional barriers to widespread deployment – cost and space. While our carbon capture as a service (CCaaS) model, that is of huge interest to companies, will also make carbon capture simpler than ever before.”
The survey identifies Europe and the US as the regions in which CCUS deployment will increase the most in the future, and 80% of respondents wanted to know more about the technology and were interested in exploring CCUS for their business.
Ends
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- The Hydrocarbon Processing Market Survey was conducted by Gulf Energy Information and commissioned by Carbon Clean.
- Subscribers to Hydrocarbon Processing were invited to participate in this online survey and the report is based on returns from the first 145 respondents. The primary business activities of respondents are: refining; petrochemical; gas processing/LNG; engineer/construction; chemical; and consulting.
- Download the full survey report.
- For more on CCUS in refineries, download Carbon Clean’s free e-book ‘The future of carbon capture for refineries’.
