CCS Projects in the Energy Sector: challenges and opportunities

Abstract

It is now recognized that this planet and the humanity are under serious threat of global warming, In the global fight against climate change, the development of low-carbon technology is a vital component to reduce future carbon emissions. Global energy model dependent on oil, coal and gas, the burning of these fossil fuels releases carbon dioxide, the main responsible of this warming. Climate change is a serious threat, its impacts are already visible, and there is an urgent task to reduce greenhouse gas emissions in the coming decades to prevent serious economic and social impacts. The "Carbon Capture and Sequestration" (CCS), is one of the three major pathways for reducing atmospheric concentration of CO₂, the other two pathways are Lowering intensities through improved efficiency and conservation, and Switching to low or no carbon fuels, such as renewable or nuclear. The CCS technology to sequester or stores the CO₂, from the burning of fossil fuels, in secure reservoirs other than the atmosphere, such as the oceans, under geological formations. It has become part of a research and development initiative promoted by some Governments and industries around the world. This paper provides an overview of the role that will play the CCS in the energy sector, we discuss about the current Global activity, the LSIPs (integrated large-scale projects), and their SWOT analysis. In addition we consider the inclusion as CDM (clean development mechanism), this global trend of environmental responsibility represents a unique opportunity for developing countries to implement actions that increase the competitiveness of them, and at the same time reduce greenhouse gas emissions.