The International CCS Knowledge Centre (Knowledge Centre) was honoured to attend the very first International Carbon Capture, Utilization, and Storage (iCCUS 2020) conference in the Saudi capital of Riyadh. iCCUS 2020 brought together many key world energy leaders, including ministers, senior executives from major energy and industry, policy makers, financiers, and renowned scientists -- to discuss the role of CCUS in enabling a Circular Carbon Economy.
In a panel showcasing “Lessons from Large-Scale Demonstration Projects,” Knowledge Centre VP of Strategy and Stakeholder relations, Beth Hardy, had the opportunity to showcase the learnings from the pioneering Boundary Dam CCS Facility (BD3) alongside JX Nippon Oil & Gas Corporation, ADNOC, and Saudi Aramco. The focus of the discussions revolved around the best practices for advancing demonstration projects to large-scale operations, including the role of business cases for commercialization and accelerating deployment through cooperation and knowledge-sharing.
Hardy also had the opportunity to moderate a panel on “CCUS Emerging Business Models,” comprised of representatives from the Oil and Glas Climate Initiative (OGCI), Columbia University, and Northern Lights CCS, focusing on how business models, government support, joint ventures, and leveraging shared infrastructure can all drive CCS while reducing cost and risks of investment.
CCUS is an essential technology for achieving ambitious climate goals, through deep CO2 emission reduction in power, industry, heat and transport, while enabling a net-zero emissions world through technologies such as direct air capture. Opportunities remain for imporving performance, creating new CCUS business models, and discovering scalable uses of CO2 that contribute to realizing the vision of a circular carbon economy as the most effective way for adddressing dual climate and energy challenges.