Carbon capture, utilization, and storage (CCUS) is a technology that has been gaining traction in recent years as a way to mitigate the effects of climate change. McKinsey & Company, a global management consulting firm, has been at the forefront of developing strategies for capturing, utilizing, and storing gigatons of CO2.
What is CCUS?
CCUS is a process that involves capturing carbon dioxide (CO2) emissions from industrial processes or power plants, utilizing the captured CO2 for various purposes, and storing the remaining CO2 in underground geological formations. The goal of CCUS is to reduce the amount of CO2 released into the atmosphere, which is a major contributor to climate change.
Capturing CO2
The first step in CCUS is capturing CO2 emissions from industrial processes or power plants. McKinsey has developed several strategies for capturing CO2, including post-combustion capture, pre-combustion capture, and oxy-fuel combustion.
Post-combustion capture involves capturing CO2 from the flue gas emitted by power plants or industrial processes after combustion has occurred. Pre-combustion capture involves capturing CO2 before combustion occurs by converting fossil fuels into a gas that can be separated into hydrogen and CO2. Oxy-fuel combustion involves burning fossil fuels in an oxygen-rich environment, which produces a flue gas that is mostly CO2.
Utilizing CO2
Once CO2 has been captured, it can be utilized for various purposes. McKinsey has identified several potential uses for captured CO2, including enhanced oil recovery (EOR), production of chemicals and materials, and carbonation of concrete.
EOR involves injecting CO2 into oil reservoirs to increase the amount of oil that can be extracted. This process not only utilizes captured CO2 but also helps to reduce the amount of CO2 released into the atmosphere during oil extraction.
The production of chemicals and materials using CO2 involves using captured CO2 as a feedstock for the production of chemicals and materials such as plastics, fertilizers, and building materials. This process not only utilizes captured CO2 but also reduces the need for fossil fuels as a feedstock.
Carbonation of concrete involves using captured CO2 to produce a type of concrete that absorbs CO2 from the atmosphere over time. This process not only utilizes captured CO2 but also helps to reduce the amount of CO2 released into the atmosphere during the production of traditional concrete.
Storing CO2
The final step in CCUS is storing the remaining CO2 in underground geological formations. McKinsey has identified several potential storage options, including depleted oil and gas reservoirs, saline aquifers, and unmineable coal seams.
Depleted oil and gas reservoirs are ideal for CO2 storage because they have already been proven to hold large amounts of hydrocarbons. Saline aquifers are also a good option because they are abundant and have the potential to store large amounts of CO2. Unmineable coal seams are another potential storage option because they have the potential to store large amounts of CO2 and can also be used for EOR.
Conclusion
CCUS is a technology that has the potential to significantly reduce the amount of CO2 released into the atmosphere and mitigate the effects of climate change. McKinsey & Company has been at the forefront of developing strategies for capturing, utilizing, and storing gigatons of CO2. By implementing these strategies, we can work towards a more sustainable future and reduce our impact on the environment.
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