Carbon sequestration is the capture and storage of carbon dioxide in underground geological formations. Numerous carbon sequestration projects are in progress around the world. Major economies and oil and gas companies have already established a number of demonstration and commercial carbon sequestration facilities. The behaviour of carbon dioxide within geological formations is being continuously monitored to avoid risks due to leakage and to address other safety issues.

The European Commission’s (EC) Energy and Climate Change Package, the US Clean Energy and Security Act, the Australian Carbon Pollution Reduction Scheme (CPRS) and other policy initiatives by emerging and developing nations are driving the adoption of carbon sequestration projects globally. The support from non-governmental institutions, governmental organisations, academic institutions, power generation and oil and gas companies is also accelerating the implementation of these projects.

The regulations from developed countries have been the key drivers for the carbon capture and storage (CCS) projects. The major restraints for the CCS projects have always been the costs associated with the capital carbon capture and the risks associated with storage locations.

The major international regulations that are promoting the CCS projects are the Kyoto Protocol and the UN framework convention on climate change, which was signed by 140 countries. The major drivers within the US have been the Department of Energy’s carbon emissions monitoring and reporting, and EPA’s climate leaders programme and global climate change initiatives.

Major developed economies are investing in carbon sequestration to strengthen the climate change initiatives across the world. The US, Canada, the UK, Germany, Norway and Australia are the major countries boosting the carbon sequestration projects. In addition, the majority funding provided by the EC fortifies the projects’ progress. The new US Government’s climate change initiatives have revived the FutureGen project. This project was earlier postponed due to the government’s cancellation of fund support to this project. The UK is also investing heavily in carbon storage technologies. The country is also forming alliances with emerging geographies and investing to develop clean coal and energy-efficient technologies. The investments are in lieu of the carbon credits that can be traded to fight climate change globally.

Global carbon policy analysis: policy initiatives driving the growth of the carbon sequestration market.

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By GlobalData
World, Major Sequestration Planned, Demonstration and Operational Projects, 2008
Project Information Capture Information
Project Name Developer(s) Country Status Capital Cost (in $ millionUSD) Year in Operation or Planned Facility Type
In Salah BP (32%), Sontrach (35%), and Statoil (32%) Algeria Operational 1700 2004 Natural Gas Processing
Callide-A Oxyfuel CSE, IHI, JCOAL, Jpower, Xstrata Coal, Schlumberger Oilfields Australia Australia Demonstration 169.59 2010 Oxyfuel Combustion – Retrofit to PC Power Plant
Gorgon Chevron Texaco Australia Planning 679.433 2009 Natural Gas Processing
Hazelwood International Power Australia Construction 298 2009 PC Power Plant
ZeroGen ZeroGen Pty Ltd, Mitsubishi Heavy Industries and Mitsubishi Corp Australia Construction 3472.68 2012 IGCC
RWE Goldenbergwerk BASF, RWE Power, Linde Germany Planning 2577 2015 IGCC
Sleipner StatoilHydro Norway Operational 100 1996 Natural Gas Processing
Snøviht StatoilHydro Norway Operational 110 2008 Natural Gas Processing
Statoil Mongstad StatoilHydro, Gassnova Norway Planning 2700 2014 Combined Heat and Power
Blyth RWE United Kingdom Planning 3600 2014 Supercritical PC Power Plant
Longannet Scottish Power United Kingdom Planning 1635.2 2014 PC Power Plant
Teesside Coastal Energy United Kingdom Planning 1500 2012 IGCC
Great Plains Gasification Plant/ Weyburn-Midale EnCana, Apache Corp., Basin Electric Power Company United States Canada Operational 123 2000 Coal to SNG Gasification
Source: GlobalData/ Carbon Sequestration Leadership Forum (CSLF):
Global Carbon Policy Analysis: Policy Initiatives Driving the Growth of the Carbon Sequestration Market

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