7 Feb 2017
Pöyry Management Consulting report demonstrates business case for UK Industrial Carbon Capture and Storage
Against the background of an emerging UK industrial strategy and the forthcoming publication of the UK Government Emissions Reduction Plan, this new report by Pöyry Management Consulting sets out the business case for an Industrial CCS support mechanism in the UK. This report proposes a business model that could make cost-effective, near-term investment in CCS attractive to both Government and to Energy Intensive Industries (EIIs) and so form a basis to enable the Government and industry to jointly take forward delivery of Industrial CCS. The report was written in collaboration with the Teesside Collective, an industry coalition comprised of companies based in the Tees Valley region and funded by the Department for Business, Energy and Industrial Strategy.
Key report findings:
- Carbon Capture and Storage (CCS) is a technically proven technology for application to industrial emissions currently operating at sites worldwide, and the only viable option for deep emissions cuts for many UK industries.
- Building on Lord Oxburgh Parliamentary Advisory Group report recommendations for separation of CO2 capture from CO2 transport and storage (T&S), the report proposes a commercially feasible industrial CCS business model identified and tested through broad stakeholder input with both industry and Government.
- Using the identified business model as a basis, total lifetime cost for capture, transport and storage for a cluster of industrial CCS projects developed using shared T&S is below 60/tCO2 when using data from the Teesside Collective 2015 Blueprint study.