Carbon capture and storage technology breaks through under dual carbon targets

"As of 2020, among the 35 carbon dioxide capture, utilization and storage technology (CCUS) demonstration projects in China, there are only 6 commercial facilities, and they are still facing the development dilemma of high cost, long cycle and high risk
.

" June 10 At the seminar on China’s carbon dioxide capture, utilization and storage demonstration projects, Professor Wei Yiming, the vice president of Beijing Institute of Technology, spoke frankly about the current status of China’s CCUS industry

As an important guarantee technology for China to achieve the goal of carbon neutrality, the CCUS industry must successfully break through and transform from demonstration applications to large-scale commercial applications.
It not only needs to understand the positioning changes of CCUS technology, but also requires relevant incentive policies, industrial deployment and management systems to improve day by day.
, To realize the renewal and transformation of the industrial model
.

Repositioning CCUS technology for carbon neutrality

Repositioning CCUS technology for carbon neutrality

"As an important part of the technology portfolio to achieve carbon neutrality, CCUS technology has huge potential for emission reduction in the future, considerable room for cost reduction, and diverse technological development paths
.

" At the exchange meeting, Sun Hong, chief engineer of China’s Agenda 21 Management Center, commented on CCUS technology.

From the perspective of emission reduction, China's current carbon dioxide capture capacity is only 3 million tons per year, and the cumulative carbon dioxide storage capacity from 2007 to 2019 is only 2 million tons.
By 2050, CCUS technology can provide 1.
1 billion to 2.
7 billion tons per year.
With the contribution of large-scale carbon dioxide emissions reduction, CCUS has great potential for future emissions reduction
.

Change the perspective and look at CCUS technology from the perspective of scientific and technological support, which has a more prominent role in achieving the goal of carbon neutrality
.

"CCUS is currently the only technology option to achieve large-scale low-carbon utilization of fossil energy
.

" Sun Hong introduced that according to existing research predictions, by 2050, fossil energy will still play an important role, accounting for 10% of China's energy consumption.

The International Energy Agency has predicted that by 2050, the global steel and cement industries will still have about 34% and 48% of carbon emissions.
CCUS is one of the few feasible technical solutions for industries that are difficult to reduce emissions such as steel and cement to achieve near-zero carbon emissions
.

Sun Hong said that by 2060, if there are still some greenhouse gases that cannot be reduced in China that need to be offset by carbon sinks and negative emission technologies, "the negative emission technology coupled with CCUS and new energy will be the foundation for achieving the goal of carbon neutrality.

Therefore, under the guidance of the Ministry of Science and Technology, the China Agenda 21 Management Center is currently working with relevant units to compile the "Carbon Neutral Technology Development Roadmap".
CCUS is one of the key technologies of the roadmap
.

Industrial investment model needs rethinking and redesigning

Industrial investment model needs rethinking and redesigning

2020 is a very critical time point for the development of the CCUS industry
.

Many countries have invested heavily in the CCUS industry in R&D, infrastructure, and demonstration projects

Whether it is to respond to the needs of climate change or to face the goal of carbon neutrality, it is a general trend to continue to increase investment in the CCUS industry
.

Wei Yiming said that especially after the carbon peak is achieved in 2030, the promotion of CCUS is vigorously promoted, which means that infrastructure construction must be carried out from now on

The huge investment gap urgently requires rethinking and redesigning CCUS’s business model and investment and financing mechanisms.