Economic Potential of DACCS and Global CCS Progress
The project pipeline, in terms of facility numbers and capture capacity, is now at a record
high. Since 2017, capture capacity has grown at a compound rate of over 34 per cent
per annum.
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Capture capacity (on a 2022 basis see explanatory note above) in the pipeline has
grown substantially in the past 12 months. This includes an impressive near-doubling of
capture capacity in the Advanced Development state (projects undergoing Front End
Engineering Design), from 49.4 Mtpa in 2021 to 97.6 Mtpa in 2022.
Advanced Development means projects have received significant funds for engineering
development, demonstrating a higher level of commitment to project development and
a higher probability of moving to funding approval and construction, so this increase is
significant for future project growth.
By facility count growth, the US continues to lead the way globally, with 34 new projects
since 2021. Other leading countries in the past year include Canada (19 new projects),
the UK (13), Norway (8), and Australia, the Netherlands and Iceland (6 each).
OPERATIONAL
EARLY DEVELOPMENT
ADVANCED DEVELOPMENT ● IN CONSTRUCTION
FIGURE 5: WORLD MAP OF CCS FACILITIES AT VARIOUS STAGES OF DEVELOPMENT
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GLOBAL CCS
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