The global capacity for carbon capture in 2030 is set to increase sixfold from today’s level, to 279 million tons of CO 2 captured per year, according to research company BloombergNEF’s (BNEF) newly released 2022 CCUS Market Outlook. Sharp growth in the market has led to a 44% increase in expected 2030 capacity compared to last year’s outlook. Carbon capture, utilization and storage (CCUS) is a key technology needed to decarbonize hard-to-abate sectors such as petrochemicals and cement, and to provide 24/7 clean power through gas plants fitted with capture equipment. Still, despite significant acceleration in the sector in the past two years, the world’s capacity for carbon capture is not being deployed fast enough to meet climate goals at the end of the decade, according to BNEF research. Today, most capture capacity is used to collect carbon dioxide from natural gas processing plants and used for enhanced oil […]