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CCUS to Play a Crucial Role in Achieving Climate Goals by 2050 | GlobalData Plc

Written by Customer Service on . Posted in Public Companies.

Policy and economic incentives will be needed to develop CCS at a scale that effectively contributes to climate goals

LONDON, June 09, 2022 (GLOBE NEWSWIRE) — In most scenarios modeling energy transition, Carbon Capture, Utilization, and Storage (CCUS) is set to play a key role to reach climate goals by 2050 by increasing the chances of limiting global warming to less than 2 degrees C by end of the century. CCUS will be crucial in netting emissions in sectors where complete reduction of emissions will not be possible, such as heavy industry activities. Without CCUS contributing to netting emissions, the pace for replacing fossil fuels in power generation and transport needs to be much higher and will require an amount of investment and coordination among countries which does not seem realistic.

The Carbon Capture, Utilisation and Storage (CCUS) Strategies in the Oil and Gas Industry market research report offered by GlobalData Plc provides an introduction to CCUS technologies, global context on the status of active CCUS facilities, O&G leaders in CCUS, and strategies of selected O&G leaders in CCUS.

CCS Market Segmentation in the Oil and Gas Industry by Sector

  • Oil sands upgrading
  • Biorefinery
  • Petrochemicals
  • Oil & gas fields
  • Oil refining
  • LNG liquefaction
  • Natural gas processing
  • Chemicals & fertilizers
  • Synthetic natural gas
  • Power
  • Iron & steel
  • Waste-to-energy

Active CCS Capacity, by Sector

For more sector insights, download a free report sample

Existing CCS capacity is concentrated in natural gas processing plants. This is often due to the high CO2 content of natural gas streams, which must be removed. In most cases, the captured CO2 is used for Enhanced Oil Recovery (EOR) activities within the upstream segment of oil and gas.

Leading CCUS Companies in the Oil and Gas Industry

  • Exxon Mobil
  • Ineos
  • TotalEnergies SE
  • Occidental Petroleum Corp
  • Rio Grande LNG LLC
  • Eni SpA
  • Petrobras
  • Cameron LNG LLC
  • Equinor ASA
  • Shell Plc
  • Sinopec
  • Chevron Australia Pty Ltd
  • G2 LNG LLC
  • Lake Charles Methanol LLC
  • Petronas

Exxon is a pioneer in the implementation of CCUS technology, operating one of the earliest commercial facilities. Exxon Mobil is using a variety of technologies in tandem with CCUS. It established its Low Carbon Solutions business unit in 2021 to commercialize low-carbon technologies. In late 2021, the company also leased vast areas in the Gulf of Mexico which are speculated to be intended for CCUS rather than oil and gas extraction.

To know more about leading CCUS companies in the oil and gas industry and their strategies, download a free report sample

CCUS Market Overview in the Oil and Gas Industry

Key SectorsOil Sands Upgrading, Biorefinery, Petrochemicals, Oil & Gas Fields, Oil Refining, LNG Liquefaction, Natural gas processing, Chemicals & Fertilizers, Synthetic natural gas, Power, Iron & Steel, and Waste-to-Energy
Leading CompaniesExxon Mobil, Ineos, TotalEnergies SE, Occidental Petroleum Corp, Rio Grande LNG LLC, Eni SpA, Petrobras, Cameron LNG LLC, Equinor ASA, Shell Plc, Sinopec, Chevron Australia Pty Ltd, G2 LNG LLC, Lake Charles Methanol LLC, and Petronas

Reasons to Buy

  • Understand the importance of CCUS
  • Learn the status of CCUS today and expected capacity over the next decade
  • View which sectors use CCUS today and in the future
  • Understand who are the key O&G players in CCUS
  • Learn what strategies are being employed to develop CCUS
  • Learn how CCUS can generate revenue for O&G companies

FAQs

What are the key sectors in the CCUS market in the oil and gas industry?

The key sectors in the CCUS market in the oil and gas industry are oil sands upgrading, biorefinery, petrochemicals, oil & gas fields, oil refining, LNG liquefaction, natural gas processing, chemicals & fertilizers, synthetic natural gas, power, iron & steel, and waste-to-energy.

Which are the leading CCUs companies in the oil and gas industry?

The leading CCUs companies in the oil and gas industry are Exxon Mobil, Ineos, TotalEnergies SE, Occidental Petroleum Corp, Rio Grande LNG LLC, Eni SpA, Petrobras, Cameron LNG LLC, Equinor ASA, Shell Plc, Sinopec, Chevron Australia Pty Ltd, G2 LNG LLC, Lake Charles Methanol LLC, and Petronas.

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