More than 70 per cent of operational and upcoming carbon capture facilities globally were associated with energy assets as of June 2026, highlighting the continued role of oil and gas companies in carbon capture, utilisation and storage (CCUS), according to GlobalData.
The intelligence firm said oil and gas companies are
increasingly prioritising CCUS projects that support core operations, including
LNG, refining, hydrogen production and upstream activities.
Major developments include Eni’s Ravenna cluster,
ExxonMobil’s Gulf Coast CO₂ transport and storage network, and Northern Lights
in Norway, jointly owned by Equinor, Shell and TotalEnergies.
Ravindra Puranik, Oil and Gas Analyst at GlobalData, said:
“As of June 2026, the operational carbon capture base remained modest, with
more than 140 projects globally across multiple industries and a cumulative
capacity of 62 million tonnes per annum (mtpa). The energy sector accounted for
the bulk of this capacity. However, most future capture capacity remains
concentrated in the feasibility and FEED stages of project development.”
GlobalData said the CCUS industry has moved beyond
pilot-scale development, but many projects still face commercial, regulatory
and infrastructure challenges before construction and commissioning.
Shared CO₂ pipelines, shipping networks and storage hubs
will be critical to reducing risks and improving project economics.
Despite a strong project pipeline, the coming decade is
expected to be shaped by selective project delivery rather than broad-based
expansion.
Financing risks, cost inflation, permitting delays and
uncertainty over long-term CO₂ offtake and storage contracts could slow
development.
Puranik concluded: “The US 45Q tax credit, the European
Union’s ETS, and Canada’s carbon pricing mechanism support project economics.
However, high capital and operating costs, inadequate CO₂ transport and storage
infrastructure, permitting delays, long-term liability, and public skepticism
remain critical for the mass CCUS deployment.” -OGN/TradeArabia News Service
