KAPSARC wrapped up its Global Clean Energy Action Forum side event last week in Pittsburgh to help accelerate the clean energy transition and advance knowledge on carbon capture, utilization, and storage (CCUS) technologies and their widespread applications.
Moderated by expert Hossa Almutairi, Ph.D, panelist Larissa Lee Beck highlighted CCUS as an overlooked solution to carbon management in many regions, including the U.S. and Europe.
"We're seeing firsthand how devastating the energy crisis is in Europe. One-third of German companies see it as an existential threat, and multiple manufacturing facilities have already shut down."
"European countries expect to invest more than 15 billion euros to alleviate the crisis and we need to ensure that the new energy infrastructure we are building contains CCUS-compatible paths for carbon mitigation," Beck added.
"Energy-producing countries have the skills and resources to store large amounts of carbons," said Wolfgang Heidug. They can use these technologies to complement and support their decarbonization targets effectively and efficiently.
However, Colin Ward clarified that CCUS technologies don't just apply to advanced economies. "Using CCUS in developing nations depends on their economies and who their customers are. If you supply energy to developed countries, then using CCUS benefits both of you."
Although CCUS is a vital solution for the oil and gas sector, it has broader applications. According to Hasan M., one must take into account "geography, industry, and policies because every business model is unique" when evaluating the applicability of CCUS to various industries.
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