Industrial Info Tracks CCS Project Boom

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Researched by Industrial Info Resources (Sugar Land, Texas)--To say carbon capture and storage (CCS) projects are expanding across the U.S. almost is an understatement. Industrial Info is tracking 165 CCS-related projects in the U.S., totaling $80.5 billion.

Subscribers to Industrial Info's Global Market Intelligence (GMI) project databases can click here for a list of detailed project reports.

Click on the image at right for a graph showing U.S. CCS-related project activity by industry.

Federal initiatives are playing a substantial part in project development. The recently enacted Inflation Reduction Act (IRA) includes about $369 billion in incentives for clean energy and climate-related program spending, including funding to encourage carbon capture, utilization, and storage (CCUS) projects, according to the U.S. Department of Energy's (DOE) Office of Fossil Energy and Carbon Management (FECM).

"The IRA will substantially increase the amount and availability of tax credits for CCUS by raising the credit amounts for facilities that capture carbon for enhanced oil recovery or geological storage, allowing smaller facilities to claim credits, and permitting direct payments," the FECM said. "These and other provisions of the IRA have the potential to dramatically impact how utilities and other businesses pursue emissions-reduction efforts in coming years."

For related information, see August 31, 2022, article - U.S. Carbon Capture, Usage and Storage Inventory Expands.

The DOE announced on September 23 a nearly $4.9 billion set of "funding opportunities to bolster investments in the carbon-management industry, and to significantly reduce carbon dioxide (CO2) emissions released into the atmosphere through power generation and industrial operations. The funding from President (Joe) Biden's Bipartisan Infrastructure Law will support three programs to help drive the demonstration and deployment of carbon capture systems, along with carbon transport and storage infrastructure."

In early October, the U.S. government announced that it was allocating $2.1 billion for loans for carbon dioxide transportation projects in the U.S. The Carbon Dioxide Transportation Infrastructure Finance and Innovation (CIFIA) program will be appropriated annually through 2026 to help provide capital for projects transporting carbon to endpoints for its storage or utilization. For more information, see October 12, 2022, article -- U.S. Allocates Funding for Carbon Transportation Projects.

In Louisiana, Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) will store up to 2 million metric tons per year of captured carbon dioxide (CO2) emissions from CF Industries Holdings Incorporated's (NYSE:CF) (Deerfield, Illinois) manufacturing complex in Louisiana under a deal announced in October. Subscribers to Industrial Info's GMI Chemical Processing project and plant databases can click here for the project report and click here for the plant profile.

ExxonMobil also is performing equipment studies for a Blue Hydrogen and Carbon Capture Storage Addition at its Baytown, Texas, olefins complex. The addition would produce 1 billion cubic feet per day of blue hydrogen, with a carbon capture system to store up to 10 million metric tons of CO2 per year. Subscribers can click here for the project report and click here for the plant profile.

In Point of Rocks, Wyoming, PacifiCorp's (Portland, Oregon) Coal-Fired Units 3 and 4 Jim Bridger Carbon Capture and Sequestration project is in the planning stages. The project involves retrofitting the units with carbon capture controls technology. Subscribers to Industrial Info's GMI Power project and plant databases can click here for the project report and click here for the plant profile.

Subscribers can click here for all project reports mentioned in this article and click here for the related plant profiles.

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) 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).