DNV expects carbon capture and sequestration (CCS) to expand to 1,300 million tonnes/year (tpy) by 2050, from a current level of 41 million tpy. The company’s ‘CCS to 2050’ report estimates outlays of $700 billon for this rate of expansion to occur.
CCS capacity will quadruple by 2030, according to the report, with natural gas production in North America and Europe still the main application. This continues recent trends, which had two-thirds of CO2 captured in 2024 associated with decarbonizing the energy sector, mostly in gas processing. DNV expects gas processing’s share of total capture to fall to 6% in 2050 from 34% in 2030.
After 2030, continued growth will come from hard-to-decarbonize sectors, with manufacturing expected to account for 41% of captured CO2 by 2050. Growth in the maritime transport sector is expected from the 2040s as onboard capture becomes more widespread across global shipping fleets.
Even with these advances, however, the volume of CCS projected by 2050, will address just 6% of global CO2 emissions, well short of what DNV says is required to reach “any net-zero outcome.” Europe is expected to capture 31% of its emissions through CCS and North America 26%. China and India, by comparison, will capture 3% and 1% respectively, according to the report.
‘CCS to 2050’ can be found at dnv.com
