CCUS – 5 Things to Look for in 2024

This report was produced by Wood Mackenzie, a member of IPFA. 

Companies and governments pushed CCUS up their agendas throughout 2023. New project announcements gathered pace as the global CCUS pipeline continued to grow and mature. So, what developments should we expect in 2024? CCUS has long been an energy transition hot topic. It plays an important role in our global net zero 2050 scenario – part of our energy transition outlook (ETO) report. And over the next decade, we expect its storage capacity will increase from 80 Mtpa to more than 500 Mtpa. Momentum is gathering.

Globally, 119 projects with 115 Mtpa capture capacity and 240 Mtpa storage capacity are aiming for final investment decision (FID) in 2024. So where are the CCUS project hotspots? What’s the risked capacity by region? Drawing on powerful insights from Wood Mackenzie’s Lens Carbon, the report details predictions for the key themes that will shape the CCUS landscape in the year ahead.