cement and steel production).īioenergy with carbon capture and storage (BECCS) and direct air capture (DAC) with CO 2 storage are key carbon dioxide removal technologies. Based on the current project pipeline, by 2030 annual capture capacity from both new construction and retrofits could amount to around 90 Mt CO 2 from hydrogen production, around 80 Mt CO 2 from power generation and around 35 Mt CO 2 from industrial facilities (e.g. Currently, around 65% of operating CO 2 capture capacity is at natural gas processing plants, one of the lowest-cost CO 2 capture applications, but new CCUS developments are increasingly targeting other applications. The widespread adoption of economy-wide decarbonisation targets for 2050 is stimulating the diversification of CO 2 capture applications. In China, three new projects became operational in 2023, while Japan selected seven candidate projects for support towards their commercialisation.Indonesia finalised its legal and regulatory framework for CCUS in March 2023, making it the first country in the region to establish a framework for CCUS activities.The United Kingdom announced GBP 20 billion in its Spring Budget 2023 for the early deployment of CCUS projects.Additionally, the pilot phase of Project Greensand in Denmark became operational in March 2023, transporting CO 2 from Belgium for storage in a depleted oil field of the Danish North Sea. The European Union launched the Net Zero Industry Act in March 2023, proposing an annual CO 2 injection target of 50 Mt CO 2/yr for 2030 and improved permitting procedures for CCUS.

The United States announced important opportunities in 2022 that are expected to boost CCUS project development, including new funding under the 2021 Infrastructure Investment and Jobs Act and favourable CCUS tax credit changes in the 2022 Inflation Reduction Act.Countries and regions making notable progress in CCUS include:

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