Thursday 30 March 2023

Wood advises on ‘more than half’ the world’s carbon capture projects

Consultancy Wood claims that it has completed studies for more than half of the world’s 300 planned carbon capture projects.

The firm has stated that it has had an input on 175 projects – from the US to Saudi Arabia.

It has affirmed the importance of carbon capture and storage in the world’s green journey, with President Daniel Carter labelling it “critical to [the] energy transition and net zero.”

He continued: “Existing technologies could cut three-quarters of methane emissions from oil and gas production at no net cost to operators.

“It starts with focusing on the simple stuff like the ability to actively identify and manage sources of greenhouse gas emissions in real time using digital tools and harnessing data to identify the optimum pathway for an asset to achieve its carbon reduction goals.”

The International Energy Agency has found that more than 200 new carbon capture projects will be operational by 2030 – which would capture 220 megatonnes of carbon each year.