CCS could be ‘trillion-dollar industry’ – Baker Hughes AM 2021
Developing carbon capture and storage will be essential to the oil and gas industry remaining relevant
Successful development of carbon capture and storage (CCS) is going to be vital to achieve Paris Agreement targets, according to Daniela Abate, new energy solutions platform leader for Baker Hughes. Achieving Paris Agreement targets will require increasing the capacity of clean energy by a factor of about 40 over the next two decades, Abate told conference delegates at the Baker Hughes annual meeting. “CCS is vital to the development of the hydrogen economy because it will enable the deployment of blue hydrogen production,” she said. “It is also an opportunity as it is a trillion-dollar industry waiting to be born.” However, Abate also acknowledged that, without CCS, the oil and gas industry
Also in this section
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
1 July 2025
Supportive government policy, deforestation threat and economic opportunity drive forward the region’s monetisation of forest carbon
27 June 2025
TotalEnergies’ delayed FID for its Venus project will likely set back first oil, but Windhoek has other irons in the fire
26 June 2025
Last year was one of records for renewables but also for oil, gas and coal, as the energy transition progresses in an increasingly uneven way, according to the Energy Institute’s latest annual report
