New research has discovered that carbon capture and storage (CCS) technologies are an essential component of natural gas’ role in the energy transition, Natural Gas Intelligence reported.
The peer-reviewed study, published in the journal Nature Climate Change, was led by academics coming from universities in the U.S. and Canada. The researchers performed a life cycle analysis for the 108 nations with gas-fired energy in 2017, and estimated the total life cycle emissions for each of country.
They discovered that the average emissions of gas-fired power globally is 10% pf total energy-related emissions. These emissions mostly come from energy generation, followed by methane release.
According to the team behind the paper, only 19%-26% of the pollution could be prevented with measures to bring down methane emissions and by addressing inefficiencies in transmission and delivery infrastructure. CCS could bring an additional 45-52% reduction in lifetime emissions.
This is “the first global study that demarcates the emissions challenges and mitigation opportunities associated with using gas as a transitional source for electricity generation,” the authors said.
The recently passed Inflation Reduction Act (IRA) could double the amount of CO2 emissions that can be abated using carbon capture, storage and utilization (CCUS), according to modeling by software company Enverus.
The new legislation expands the 45Q tax credit for CO2 capture to projects starting in 2033 instead of the previous 2025. IRA also lowered the minimum CO2 capture requirement for a qualified site. Following the bill, the price for a credit went up to $85 dollars per metric ton from $50 and $35 previously.
According to the International Energy Agency, approximately 130 commercial CO2 capture projects in 20 countries were announced last year. $1.8 billion were invested in CCUS, with a big part of those invested toward “young companies with costly technologies to remove CO2 from the air and store or use it.”