Exploring attributes of global CCS projects and the key factors to their accomplishment based on the CCUS project database

Abstract

In recent decades, the serious excessive level of carbon emissions has become the worthiest of human consideration to alleviate the problem. The negative impacts of carbon emissions on human beings involve a variety of aspects, such as sea level rise, deforestation, air pollution, global warming, etc. Any one of these issues could cause serious negative impacts on human society. In a large number of relevant studies, Carbon Capture and Storage (CCS) programs are considered to be the most promising and effective approach. The carbon produced during production is captured and transported to rock formations deep underground where it is centrally stored. There are nearly 300 CCS plants in operation around the world that demonstrate the feasibility of such projects. However, one relevant question is whether the project is costly and has barriers to deploy at a scale. We gathered a comprehensive list of large-scale CCS projects globally by utilizing the CCUS Projects Database. We then conducted a comparative analysis of these projects across various categories of project status, ensuring comparability by standardizing cost and extraction figures for each project. We found that the cost of Capture and Storage Projects is the highest, followed by just Capture Projects and just Storage Projects. These plants predominantly exist in developed regions: the U.S. hosts the most, then Europe, parts of Australia, with fewer plants scattered globally. Based on detailed project-specific information, we found that that the two most common reasons for suspended or closed plants are high costs without sufficient financial support and the impact of government agencies permissions and regulation. As such, improvement in the capital market and more policy support would be crucial for the deployment and operation of Carbon Capture and Storage projects.