CARBON CAPTURE, UTILIZATION, AND STORAGE

The document outlines the role of CCUS in low-carbon scenarios, noting its potential to contribute 4% of global CO2 reductions by 2030 and 12% by 2050. It highlights that while CCUS has historically underperformed, investment is increasing, with a global market potentially reaching $4–$10 billion by 2026-27. Canada is positioned as having an early advantage due to expertise in enhanced oil recovery (EOR), geological storage in Alberta and Saskatchewan, and early adoption in coal-fired electricity and oil sands. Notable investments include $685 million for a network in Norway and significant funding for Direct Air Capture (DAC) from the US, UK, and private entities.

• In low-carbon scenarios, CCUS is projected to be used by 3% to 11% of primary energy by 2050 and could account for 4% of global CO2 reductions by 2030 and 12% by 2050.
• The global CCUS market is estimated to reach between $4 billion and $10 billion by 2026-27, with a compound annual growth rate (CAGR) of 5% to 17%.
• Canada possesses a competitive advantage in CCUS and Direct Air Capture (DAC) due to policy support, industrial hubs like the AB Trunk Line, expertise in enhanced oil recovery (EOR), and geological storage in Saskatchewan and Alberta.
• Recent global activity includes over 30 new CCUS facilities announced since 2017, primarily in Europe and the US, and a $685 million investment in 2020 for the largest CCUS network in Norway.
• Significant financial investments were made in Direct Air Capture in 2020 by the UK government ($128 million), the US Department of Energy ($22 million), and Climeworks ($110 million).

APA

Canadian Climate Institute (n.d.). CARBON CAPTURE, UTILIZATION, AND STORAGE. https://climatechoices.ca/wp-content/uploads/2021/10/CICC-CCUS-Sector-Profile.pdf

Chicago

Canadian Climate Institute. CARBON CAPTURE, UTILIZATION, AND STORAGE. n.d. https://climatechoices.ca/wp-content/uploads/2021/10/CICC-CCUS-Sector-Profile.pdf.

Wikipedia

{{cite report |author=Canadian Climate Institute |title=CARBON CAPTURE, UTILIZATION, AND STORAGE |url=https://climatechoices.ca/wp-content/uploads/2021/10/CICC-CCUS-Sector-Profile.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{canadianclimateinstitutendcarbon, author = {{Canadian Climate Institute}}, title = {{CARBON CAPTURE, UTILIZATION, AND STORAGE}}, institution = {Canadian Climate Institute}, url = {https://climatechoices.ca/wp-content/uploads/2021/10/CICC-CCUS-Sector-Profile.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }