The myriad challenges and uncertainties, including high costs, across the CCUS value chain often dissuade plant owners from exploring carbon capture opportunities.The transportation of carbon dioxide is taking to the seas as emitters look for flexible ways to move captured carbon to offshore storage projects, with a fleet of 55 carriers required by 2030, according to Rystad Energy research.
Yet, the shipping industry relies on emissions-heavy conventional fuels like maritime diesel or low-sulfur fuel oil , calling into question the environmental impact of the process. The greenhouse gas emissions over shorter distances may be relatively low, but the impact multiplies quickly over longer journeys. Based on our research of CO2 shipping routes that could come online in 2030, ships traveling long distances could emit as much as 5% of the total CO2 shipped.
The myriad challenges and uncertainties, including high costs, across the CCUS value chain often dissuade plant owners from exploring carbon capture opportunities. Fortunately, emerging initiatives, including the development of open-source CO2 storage infrastructure and the expansion and diversification of transportation networks, should ease some of these restraints and reduce the complexity of projects.
France is expected to ship 17 million tpa of CO2 in 2030, followed by Belgium at 13 million tpa. These countries do not have ample opportunities to store their CO2 emissions domestically, so the chance to ship CO2 to neighboring European countries will help fast-track CCUS developments.