US CCS poised for expansion
Important updates to the legislation that covers 45Q tax credits mean the industry can now implement plans held up by financing uncertainty
The US carbon capture and storage (CCS) industry is finally set to thrive following the recent additional changes to the 45Q tax credit in the omnibus spending and Covid-19 relief bill passed in December, with further regulatory details provided last week, industry analysts predict. The most impactful changes are an extension of the construction start deadline for CCS projects by two years to 2025, and an extra $2bn of federal funding to help kickstart six new projects. The Bipartisan Budget Act of 2018, passed in February of that year, laid the foundation for the recent changes. Itself an update of previous legislation, the 2018 act included a revamped 45Q tax credit that significantly boo
Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
