As the interest in Carbon Capture, Utilization & Storage (CCUS) has increased in the wake of recent developments in CO2 taxes, both in Denmark and Europe, the commercialization of this market is coming closer, and we see more activity within the maritime industry to play a role in the value chain. CCUS technology could play a major role in the green transition as it aims at reducing the release of CO2 into the atmosphere by storing CO2 produced in industrial activities.
The report concludes that shipping can play a key role in establishing a cost-effective CCUS market. In the short term, the market will be similar as the early LNG market with purpose-built vessels ordered on the back of long contracts. In the long term, CO2 will turn into a new commodity for gas carriers with transportation across regions to both utilization and storage sites.
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