Could you explain carbon capture, usage, and storage?

Governments worldwide, including the UK, have high hopes for carbon capture and storage, a technology that prevents the release of carbon dioxide into the air.

Does it actually function, and can we financially support it?

Can You Explain the Concept of Carbon Capture and Storage (CCS)?

For many years, the different parts that make up CCS have existed. They comprise a series of technologies that can catch the carbon dioxide that's generated by large factories and power centers. This halts the gases from entering the atmosphere and increasing the effects of climate change. After the CO2 is captured, it can either be stored, used in different ways, or transported. The primary purpose of CCS is to prevent harmful carbon emissions from escaping into the atmosphere, thus reducing the impacts of climate change.

Usually, the first step is to equip the factory chimneys with special filters that prevent carbon emissions from getting out. The captured gas can then be directed to places where it can be put to use or put away. The majority of carbon dioxide is sent deep below the ground's surface, which is the same place where fossil fuel gas originates from, to be stored where it can't worsen the climate problem. This process is sometimes called "enhanced oil recovery" and involves pumping CO2 into an oil field to help release oil that would otherwise be tough to extract.

However, a portion of the CO2 has the potential to be utilized in the production of plastics, aiding in the growth of greenhouse plants, and even carbonating carbonated beverages.

"What is the Importance of Carbon Capture?"

As per the International Energy Agency (IEA), the implementation of CCS initiatives could reduce the worldwide emissions of carbon dioxide by nearly 20%. This would also result in a 70% decline in the cost incurred in dealing with the climate crisis. A significant justification behind the crucial need for CCS processes is that it is challenging and costly to transform heavy industries such as cement manufacturers, steel production companies, and fertilizer producers to operate with cleaner sources of energy.

Where is the Carbon Capture Technology currently being employed?

Currently, there are various CCS undertakings that are operating for profit, however, their number is still inadequate in terms of mitigating the carbon emissions troubling the world. The pioneers of this technology are situated in the United States, Canada, Norway (which is striving to establish itself as a global leader in this field), and China.

Over the next 20 years, the UK government has decided to invest £20bn towards the development of CCS. Meanwhile, Adnoc, an energy company located in Abu Dhabi, has commenced a drilling initiative at Fujairah. This project has a goal to convert trapped carbon dioxide into solid rock.

The International Energy Agency has shared that CCS facilities are currently picking up and seizing almost 45 megatonnes of CO2 throughout the world. However, there is a requirement for this number to rise. In the past, the use of CCS has not met the anticipated levels, however, in recent years, there has been a boost in momentum. There are almost 300 projects at various development stages across the CCS value chain.

Does the process come at a high cost?

The cost of carbon capture and storage technology may reduce significantly in the next few decades, as per a study published this year. The study suggests that companies that benefit from fossil fuel extraction, such as oil, gas, and coal producers worldwide, must store an equal amount of carbon dioxide geologically as a prerequisite for running their business. Although the technology is expensive at present, it could become more cost-effective in the future.

In a "carbon takeback responsibility", every time a nation or group of nations extracts or brings in fossil fuels, they would have to balance it out by preserving an identical amount of carbon dioxide underground. This would be gradually implemented and eventually, by the year 2050, it could even out 100% of emissions. This would be a helping hand to attain a state of equilibrium where net zero is achieved.

Actually, it is highly unlikely that this plan will be implemented. Governments are hoping that the expenses will decrease with the advancement of technology.