About 70% of the investment will be in North America and Europe across the value chain, says Wood Mackenzie’s APAC CCUS lead Hetal Gandhi. “This is a huge ramp-up from where the industry is today. Government funding plays a critical role in driving the first wave of CCUS investments.”
By 2034, global carbon capture capacity will reach 440 million tonnes per annum (Mtpa) and storage capacity will reach 664 Mtpa, requiring US$196 billion ($266.01 billion) in total investment, according to a new report from Wood Mackenzie, the global analytics firm for natural resources.
According to the June 26 report, titled “CCUS: 10-year market forecast”, nearly half of the investment globally is associated with CO2 capture, with the remaining US$53 billion from transport and US$43 billion from storage.
