Offshore carbon storage: Europe leads the way, but will Asia soon catch up?
While Europe is currently the front-runner in terms of offshore carbon storage, significant developments in other parts of the globe could potentially change this in coming years. In this article, we compare offshore carbon storage developments across Europe with those occurring in Asia Pacific.
Ammonia and the cuckoo in the nest
At first glance, it appears that ammonia should be enjoying its moment in the spotlight: new production projects are being announced on a regular basis and there is continued strong demand as well as high prices. Plus, the shift towards cleaner production techniques and ‘greener ammonia’ is well underway. Indeed, it is widely acknowledged that ammonia holds a potentially significant position in the drive towards decarbonisation.
What will increased UK carbon storage mean for shipping markets?
UK storage remains relatively underdeveloped at present, with just six UK sites that have had licences granted to date. But all that looks set to change as the number of companies looking to enter the Carbon Capture and Storage (CCS) sector has grown exponentially. Given that storage is the starting place for all CCS projects (no storage, no project!), we are starting to see the development of UK carbon storage facilities that would underpin the region’s ability to cater for an extensive storage infrastructure.