Video The Vital Role of CCUS and SLB's Involvement
Watch as we discuss key topics in CCUS and how we’re poised to ensure your project’s success.
SLB’s bold approach to a practical and viable carbon abatement solution
The world’s carbon budget is running out. So, decarbonization across all industry sectors using practical and economical solutions is crucial to reach net-zero greenhouse gas (GHG) emissions. As the gap between net zero ambitions and actual cumulative CO2 emissions grows, all scenarios are increasingly pivoting toward carbon capture, utilization, and sequestration (CCUS) as a critical lever to close this gap.
CCUS plays a vital role in carbon abatement as one of the few viable decarbonization mechanisms. But it doesn’t come without its challenges. A new market ecosystem needs to be established to overcome the challenges we face today.
Historically, project economics have stalled CCUS progression. But combining technological advancement and more recent economic incentives through various policy framework is making CCUS more investable.
Policy front: The Inflation Reduction Act (IRA) in the US provides tax incentives that will give small- to midscale CCUS projects a better chance at becoming economical. In Europe, the revision of the Emissions Trading System (ETS) covers a broader range of sectors and GHG emissions. In Canada, the Emissions Reduction Alberta (ERA) allocates multimillion dollars to carbon capture projects. Australia is also seeing significant policy and budgetary support from the federal government.
Technology front: SLB’s carbon capture technology addresses different streams of CO2 emissions to drive meaningful cost reductions across the CCUS value chain. We also derisk storage site selections through domain expertise and data integration to improve CCUS project economics.
Scaling up CCUS will require flexible business models and partnerships across sectors—from emitters to pore space owners. This is where we leverage our experience and expertise.
SLB has been actively involved in CCUS across industries for two decades. Building on our core strengths, we’re able to forge new partnerships across the entire value chain. This means combining the best minds and skillsets—from carbon capture and transport to sequestration—to accelerate decarbonization using large industrial hubs. Through these hubs, emitters can use common transport and sequestration infrastructure. This creates a network that reduces unit costs for all organizations involved and makes them more feasible. And using a suite of business models—from technical agreements to joint ventures—SLB will play a key role to ensure a successful project.
Finding the right formation to store the CO2 once captured depends on many technical factors. And distance from the capture to sequestration site should be taken into consideration. Leveraging plants within proximity to storage or common infrastructure (hubs) greatly increases a project’s chance of success.
Regulatory regime, innovative technology, and partnerships will drive CCUS growth in the coming decade. Time and scale are of the essence. SLB is poised to bring your CCUS project to fruition—effectively and economically—to address climate change.
This virtual course will familiarize management personnel across industries about CCUS. Topics include a discussion on the global outlook for CCUS, integrated workflows for projects, key technologies, case studies, and more.
This webinar discusses the critical stages to planning and implementing successful CCUS projects. It also presents case studies and talks about how SLB evolved its technology portfolio to support CCUS.
For more than a century, fossil fuels have been central to economic development, helping build the modern world as we know it. But with climate change and global warming posing existential threats to society, industries across all sectors must find practical and economical ways to decarbonize their operations and their products.