Oil and Gas Sector Strategies for CCUS

Oil and Gas Sector Strategies for CCUS

Summary

Project announcements continue to bolster the CCUS capacity outlook, with the current project pipeline resulting in a CAGR of 34% between 2021 and 2030. This represents a slightly reduced growth rate to previous years, reflecting the stabilization of growth rates in CCUS’ most developed markets. The oil and gas industry continues to be a major driver of the CCUS market, with companies such as ExxonMobil, Chevron and QatarEnergy featuring in the current ranking of leading owners of CCUS capacity.

The oil and gas industry continues to be a major driver of the CCUS market, with companies such as Exxon Mobil, Chevron and QatarEnergy featuring in the current ranking of leading owners of CCUS capacity. The presence of oil and gas within the CCUS market is expected to continue as more oil and gas companies develop projects towards the end of the decade. As a result of these projects, Equinor is expected to lead combined CCUS capacity in 2030 followed by Eni.

A number of strategies for CCUS are emerging within the oil and gas sector, with the biggest oil and gas companies often investing in a combination of capture and storage projects. In addition, although there is still a high prevalence of sole ownership, there is a trend of risk sharing through the use of consortiums for large-scale capture projects. Overall, the oil and gas sector is establishing itself as both an owner and operator across the CCUS value chain, including capture, carbon pipelines, and carbon storage facilities.

Key Highlights

• Although 32% of 2030’s projected capacity is currently in the feasibility stage, this is distinctly lower than the same statistic for other emerging energy technologies such as low-carbon hydrogen. A further breakdown of capacity by development stage indicates a significant proportion of upcoming CCUS capacity migrating into later stages of development, with an increased likelihood of project completion.
• More emerging technologies such as low-carbon hydrogen and CCUS are expected to contribute emission reduction in the longer term, reflecting their role in averting emissions from otherwise difficult to decarbonize sectors.
• A major shift towards post-combustion techniques is expected between now and 2030, with this capture technology dominating 62% of active capacity by the end of the decade. This will largely come as a result of increased adoption across power generation and heavy industry facilities.
• The United States’ existing base of active capacity combined with its strong pipeline of post-feasibility stage projects will propel the overall capacity of the North America region, allowing it to retain its leadership of the global carbon capture market.

Scope

• The role of CCUS in mitigating climate change
• CCUS technology briefing
• CCUS challenges and opportunities for oil and gas
• Global CCUS Outlook
• Leading regions and countries for CCUS capacity
• Largest capture and storage projects globally
• Leading companies by capture capacity in 2023
• Leading companies by capture capacity in 2030
• Leading operators of CCUS projects
• Oil and gas EPCs focussing on CCUS within their strategies
• Major oil and gas sector deals related to CCUS

Reasons to Buy

• Identify market trends within the oil and gas sector, including the analysis of the strategies that the biggest industry players are implementing to enter the CCUS market.
• Understand the key oil and gas players that are investing in CCUS.
• Develop market insight of the major technologies and pathways that are being employed within the CCUS market.
• Stay up to date with the latest deals related to CCUS in the oil and gas sector