Keynote: CCUS – The Opportunity and the Challenges
George R. Brown Convention Center - General Assembly A
Monday, 11 March 2024, 8:25 a.m.–9:05 a.m. | Houston, Texas
CCUS is at a crossroads. Against a backdrop of continued growth in energy demand, driven by both increasing global population as well as improving living standards in developing countries, atmospheric CO2 emissions continue to increase, even while renewable energy supply is growing at an unprecedented rate.
CCUS is clearly an essential part of the solution to reduce GHG emissions, particularly for hard-to-decarbonize industries. CCUS policy support in the US has never been stronger than it is today. The technology and capabilities to significantly scale CCUS exist today, and great minds and significant investments are aimed at further improving the efficiency and reducing the costs of capture technology, with meaningful progress made in recent years.
On the other hand, CCUS faces multiple challenges, including opposing forces on both ends of the political spectrum, uncertain public acceptance, increasing cost of capital, and rising cost inflation, among others.
Notwithstanding these challenges, it is clear that CCUS has a major role to play in any conceivable 1.5 C scenario. For example, the IEA’s ‘Net Zero Roadmap’ shows CCUS exceeding five billion tons per year by mid-century and sustaining at that level through 2100, over a 125-fold increase from where CCUS stands today.
Numerous skills and technologies developed in the E&P industry are directly adjacent to those needed in the CCUS industry, and in many cases are completely complementary. It is imperative that we as an industry take a leadership role to advance this essential technology.
- Included with registration
George R. Brown Convention Center
1001 Avenida De Las Americas