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