Carbon capture and storage (CCS) is a method of preventing CO2 from reaching the atmosphere. It is an important strategy for achieving global emissions reduction targets and transitioning to a more sustainable and low-carbon economy.
CCS involves capturing CO2 before it is released into the atmosphere, compressing it, and transporting it either via vessels or pipelines to be stored underground.
It depends mainly on three things;
You need to look at the emissions along the entire value chain to see if the process is sustainable. For operations like large old coal fired powerplants, is it more sustainable to shut down all together.
For some industrial emissions, like cement, steel etc., there are limited opportunities to reduce the CO2 emissions. For these industries CO2 storage makes sense in terms of sustainability.
Ross Offshore will only work with CO2 storage projects where we believe it is sustainable based on the three points above
Our team is highly experienced and skilled in the process of qualifying a subsurface CO2 storage site. Our subsurface team assists clients on:
Maturing a storage site can take years. For some sites one needs to acquire new data through a well or acquiring new geophysical or geochemical data. The operations themselves typically take from 5-20 years depending on the size of the storage site. And even after operations are seized you need to monitor the site for tens of years.
Taxes and fees on emissions are increasing and CCS is evaluated as an alternative to power from shore or expensive fees in the oil and gas sector.