Julia Attwood Profile picture
Oct 18 10 tweets 5 min read
Today, @BloombergNEF published its annual #CCS Market Outlook. The tl:dr is that, based on current announcements, CCS capacity is set to grow 6x by 2030. That’s 44% higher than what we expected last year. And it’s before you take #IRA into account. 🧵 with some key results: Image
(2/10) CCS is diversifying. Most of the capture will be happening in #industry and #power, rather that natural gas processing. And most of the CO2 will be going in the ground, not to oil wells for EOR.
(3/10) We’ve been saying transport and storage infrastructure could be a bottleneck. *For the moment* it doesn’t look like a problem. There’s more unallocated capacity than capture projects looking for a home for their CO2. This can change quickly, given all that Midwest #ethanol
(4/10) The CCS leaderboard won’t change much. 🇺🇸 would have 48% of the world’s CCS capacity by 2030, similar to what it has today, 🇬🇧 14%, 🇨🇦 9%, 🇦🇺 5% and 🇨🇳 4%.
(5/10) I mentioned we haven’t taken #IRA into account. That's because this isn’t a forecast, it’s a sum of the announced capacity we’ve tracked. Projects have to have a site, owner, and disclosed capacity to be included here. The #IRA bump will show up in next year’s outlook.
(6/10) We will write something on how much extra CCS #IRA could incentivize. But we need to re-run a bunch of models first. Until then, take this as a conservative number for the US. Some of the announced projects will get cancelled, but more will be announced to fill the gap.
(7/10) #DAC is having its moment in the sun. Engineered carbon removal startups raised more than $1 billion in the past year, more than all the previous years combined.
(8/10) No, this isn’t going to save #coal. But it is going to give #cement and #petchems a route to net-zero that’s hard to find any other way.
(9/10) You can find more orderly thoughts in the public press release here: about.bnef.com/blog/global-ca…
(10/10) and BNEF clients can read the full report here: bnef.com/insights/29955

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Julia Attwood

Julia Attwood Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @jp_attwood

Aug 18
(1/9) I’ve seen a lot of op-eds about how awful it is that #CCS was included in the #IRA. Most lack nuance, because they haven’t clocked that the #energytransition isn’t just about the power sector anymore. Sorry #energytwitter. So, a 🧵 on why carbon capture still has a place.
(2/9) First, I get this. I was a huge #CCS skeptic. Two things changed my mind: modelling pathways to #netzero for materials with my @BloombergNEF team, and the #BNEFNEO team's carbon budgets for industry. Sobering work that taught me a lot.
(3/9) Some industries just can’t do without CCS. Process emissions are just as harmful as combustion. And we’re past the point where abatement of emissions is enough. That means removals, which means #DirectAirCapture.
Read 10 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!