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Released April 19, 2024 | NEW DELHI
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Researched by Industrial Info Resources (Sugar Land, Texas)--As industries all over the world ramp up their efforts to decarbonize and achieve net-zero carbon emissions by 2050, carbon-capture, utilization and storage (CCUS) technology continues to attract significant investments. This, in turn, is prompting further investments in the development of carbon dioxide (CO2) pipeline infrastructure for its transportation.
The expanding market for CO2 pipelines is further driven by the adoption of enhanced oil recovery (EOR) techniques, which utilize CO2 injection to boost oil production from depleted fields. Furthermore, advancements in CO2 utilization technologies, which repurpose CO2 for the synthesis of fuels, chemicals and construction materials, are anticipated to boost the need for CO2 transportation infrastructure as these technologies mature.
Currently, Industrial Info is tracking more than 90 related capital-spending projects, with investments nearing US$25 billion. About 95% of the total spending is geared toward grassroot projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipelines Project Database can click here for a list of detailed project reports.
North America accounts for the largest share of the market, with investments totaling US$20.81 billion, or about 82% of the market share. Canada accounts for US$16.63 billion, followed by the U.S. with US$4.12 billion. Europe has US$3.21 billion worth of investment toward CO2 pipeline infrastructure, about 75% of which is concentrated in the U.K., Germany and France.
Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta), Summit Agricultural Group (Aiden, Iowa), Open Grid Europe GmbH (Essen, Germany) and Wolf Midstream Incorporated (Calgary) are the prominent players in the CO2 pipeline market.
Summit plans to invest about US$3.29 billion across five projects. One of its largest is the US$1.26 billion Midwest Carbon Express Pipeline, which is designed to transport captured liquid CO2 from ethanol and other industrial plants to injection wells in Illinois and North Dakota. Subscribers can learn more from a detailed project report.
The future of CO2 pipeline technology hinges on several factors. Leakage and explosion risks were on display in 2020 in Satartia, Mississippi, where a CO2 pipeline ruptured, resulting in evacuations and causing respiratory issues. Developments in pipeline materials, compression technologies, and leak-detection systems will be needed to build public trust.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
The expanding market for CO2 pipelines is further driven by the adoption of enhanced oil recovery (EOR) techniques, which utilize CO2 injection to boost oil production from depleted fields. Furthermore, advancements in CO2 utilization technologies, which repurpose CO2 for the synthesis of fuels, chemicals and construction materials, are anticipated to boost the need for CO2 transportation infrastructure as these technologies mature.
Currently, Industrial Info is tracking more than 90 related capital-spending projects, with investments nearing US$25 billion. About 95% of the total spending is geared toward grassroot projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipelines Project Database can click here for a list of detailed project reports.
North America accounts for the largest share of the market, with investments totaling US$20.81 billion, or about 82% of the market share. Canada accounts for US$16.63 billion, followed by the U.S. with US$4.12 billion. Europe has US$3.21 billion worth of investment toward CO2 pipeline infrastructure, about 75% of which is concentrated in the U.K., Germany and France.
Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta), Summit Agricultural Group (Aiden, Iowa), Open Grid Europe GmbH (Essen, Germany) and Wolf Midstream Incorporated (Calgary) are the prominent players in the CO2 pipeline market.
Summit plans to invest about US$3.29 billion across five projects. One of its largest is the US$1.26 billion Midwest Carbon Express Pipeline, which is designed to transport captured liquid CO2 from ethanol and other industrial plants to injection wells in Illinois and North Dakota. Subscribers can learn more from a detailed project report.
The future of CO2 pipeline technology hinges on several factors. Leakage and explosion risks were on display in 2020 in Satartia, Mississippi, where a CO2 pipeline ruptured, resulting in evacuations and causing respiratory issues. Developments in pipeline materials, compression technologies, and leak-detection systems will be needed to build public trust.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
