Clarksons/CCSA Report: Updated Costs for CO₂ Ship Transport

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Clarksons/CCSA Report: Updated Costs for CO₂ Ship Transport

Posted on: July 9th, 2024 by ccsaEditor

Today Clarksons, supported by the Carbon Capture & Storage Association (CCSA), publish a report on “Updated Costs for CO2 Ship Transport”. This study was scoped and led by Clarksons, with peer review provided through the CCSA’s Non-Pipeline Transport working group.

The primary purpose of the report is to provide guidance on the likely cost of transportation of liquefied CO2 by ship, given current price conditions (at time of publishing), and to build on CCSA’s previous publication ‘Achieving a European market for CO2 transport by ship’ on the crucial role of shipping for CCUS in Europe. The report provides a useful benchmark on the expected costs of multiple aspects of the shipping value chain and supports an increase of knowledge throughout the CCUS sector with its publication.

With shipping transportation an essential component of the future CO2 transport system and an integral enabler for the deployment of many dispersed and cross-border CCS projects, it is essential to explore the potential cost and opportunities of this developing market.

The report focuses on a number of example trade routes within Northwest Europe, selected only to give a broad comparison of different possible costings, and should not be considered as any indication of market development. Ship transport is expected to benefit a large number of clusters and projects beyond those routes described in the report.

Whilst no study can replicate the results which might be obtained in an established market where the infrastructure is in place, cost factors are known, and firm shipping requirements can be placed into the market; the results of this study give a theoretical but near realistic estimate. The report provides helpful insights into the different parameters which can affect the cost of CO2 transportation by ship and demonstrates that shipping CO2 is a viable option for multiple clusters and routes across Europe, including but not limited to those included in the study.

Read the full report here.
Visit the Clarksons website here.
Clarksons can be contacted at CO2@clarksons.com

CCSA welcomes new Labour Government and commits to delivering CCUS Clusters

Posted on: July 5th, 2024 by ccsaEditor

[London, 5th July 2024] – The Carbon Capture and Storage Association (CCSA) congratulates Prime Minister Keir Starmer and his Party on their election victory.
The CCSA, the leading trade association accelerating the commercial deployment of CCUS, looks forward to working with the new Government to build the UK’s first Carbon Capture, Utilisation & Storage (CCUS) clusters.

Labour’s support for Carbon Capture and Storage in their General Election manifesto and the additional £1bn under their National Wealth Fund to accelerate carbon capture presents a real opportunity to decarbonise British industry and deliver low carbon infrastructure projects.

With the CCUS industry on the cusp of deploying projects at scale across the UK’s industrial heartlands, accelerating the deployment of these projects could secure almost £30bn in private sector investment by 2030, deliver 70,000 new jobs and protect 77,000 more in existing carbon-intensive industries.

But it is vitally important that momentum is maintained on the CCUS Cluster Sequencing Programme to ensure the UK remains a global leader in this vital technology.

With key decisions needed to be taken immediately in the coming weeks to deliver the first two CCUS clusters, the industry is eager to work with the new Government to secure global leadership in CCUS technology.

Ruth Herbert, Chief Executive of the Carbon Capture & Storage Association said:

“The CCSA looks forward to working with Keir Starmer’s government to put the UK at the forefront of the green Industrial Revolution. We have the opportunity to manufacture low carbon cement and glass here in the UK, rather than import it from elsewhere. Carbon Capture and Storage clusters in the UK have the potential to attract around £30bn of private capital to industrial regions by 2030, boosting local economies whilst our industry decarbonises. The first step is final investment decisions on the first two clusters in the north of England – the negotiations have almost concluded and now Ministerial sign off is required – providing the perfect opportunity to follow through on manifesto commitments on industrial decarbonisation and clean power within the first few weeks of this government.”

Notes to Editors

CCUS, or Carbon Capture, Utilisation and Storage, is a key low carbon solution – vital to meeting the UK’s statutory Net Zero target at least cost. CCUS enables the production of clean power, clean products (such as steel and cement) and clean hydrogen – which can then be used to decarbonise heating and transport. In addition, CCUS also enables greenhouse gas removal from the atmosphere through Direct Air Capture with Storage (DACS) or Bioenergy with CCS (BECCS). 
  
The CCSA is the trade association accelerating the commercial deployment of CCUS, with offices in the UK and Belgium. We work with members, governments and other organisations to ensure CCUS is developed and deployed at the pace and scale necessary to meet net zero goals and deliver sustainable growth across regions and nations. 
  
The CCSA currently has over 100 member companies who are active in exploring and developing different applications of carbon capture and removals, CO2 transportation by pipeline and ship, utilisation, geological storage, and other permanent storage solutions, end-users such as power, industry, waste, fuels, and hydrogen production sectors, plus supply chain, engineering, construction and management, legal and financial consulting sectors. 
   
For media enquiries please contact Joe Butler-Trewin on 07908 141 067/ joe.butler-trewin@ccsassociation.org
 
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