MOMENTUM for carbon capture and storage is picking up, but a lack of regulatory framework and policy could hinder its progress. According to Wood Mackenzie energy transition principal analyst Mhairidh Evans, the highest development activity for CCS is currently seen in the US, Canada and Northern Europe, where more supportive policy and public incentives are stimulating investment. However, she sees Asia as one of the most promising regions for growth in global CCS capacity, with the region accounting for an increasing share of global greenhouse gas emissions. "Although activity is relatively low in Asia today, we see it as the largest ultimate market for carbon capture, from both the power sector and to abate emissions from heavy industry," Evans tells Upstream.
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