More CCUS projects reach FID as confidence grows

Policy incentives and rising carbon prices embolden developers as hub model gains traction, IEA says

Developers of CCUS and direct air capture projects have taken FID on about 15 projects since the start of 2022, up from eight in 2021, as confidence in the sector grows on the back of policy incentives, climate pledges and rising carbon prices, according to the IEA. More than 140 new projects were announced in 2022, increasing planned storage capacity by 80pc and capture capacity by 30pc, IEA data shows. CCUS projects were announced in seven additional countries in central and southern Europe, the Middle East and Southeast Asia, bringing the total number of countries with plans to develop CCUS to 45. “Governments and companies are increasingly recognising that deploying CCUS to meet decarbon