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North American Carbon Capture and Storage Market
Frost & Sullivan, April 2011, Pages: 86
This North American carbon capture storage study details the market driving and restraining forces currently existing in the market and also details some of the challenges the industry is likely to face during the forecast period. Implications of the market dynamics and industry challenges during the forecast period (2010-2020) are analyzed. It also details on the external factors such as political, economical, legal and so on prevailing in the North American carbon capture storage market. Pricing, future incentive policies and strategies are also discussed at the total level.
Carbon capture and storage (CCS), as an integrated technology, is a new addition to the power and energy market. Carbon capture has been performed at a small scale by coal power plants. Oil and gas companies have been practicing carbon sequestration for enhanced oil recovery (EOR) for the last number of years. However currently, the three elements that is CO2 capture, transportation and CO2 storage have been put together in an effort to reduce the rising concentration of CO2 levels in the atmosphere. Many power plants are in the planning stages to adopt CCS technology.
CCS is in its formative stages. Although technologies are evolving rapidly, the cost effectiveness and efficiency of the technology are primitive. CCS is mainly driving by the need to curb CO2 emissions and the potential of carbon credit trading in the future. The growth of CCS is greatly affected by government policies, incentives and the advancement of better technologies.
The adoption of CCS for oil and gas plants is a feasible option. The captured CO2 can be utilized for EOR. However, coal power plants and other industries are looking for an alternative commercial application of CO2 to get the best returns from their investment in CCS. The adoption of renewable sources to control CO2 emissions is a threat to CCs.
This research service analyzes the current market and technological trends of CCS in the North American region.
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