Carbon Capture,

Utilisation &
Storage (CCUS)

Why does it matter for your business?

Market Trends of CCUS
The global CCUS market size is expected to
grow from USD 1.6 billion in 2020 to
USD 3.5 billion by 2025, at a CAGR of 17.0%.
[1]

In Southeast Asia, at least 7 potential

projects have been identified and
are in early development – in Indonesia,
Malaysia, Singapore and Timor‐Leste. [2]

Europe is currently and expected to be

the world's fastest-growing CCUS
in terms of volume. [1]
Singapore's Focus

Can Singapore capture carbon?

Low concentrations of carbon dioxide are currently emitted
from industrial and power plant facilities, at 3% - 15%. [3]

Can Singapore store carbon?

Carbon storage is also usually done underground,
but Singapore does not have suitable geological
formations to store the captured carbon. [3]

Can Singapore utilise carbon?

Singapore can utilise carbon dioxide emissions for
other processes, e.g. concrete and kerosene.
But this requires higher costs and energy
than conventional processes. [3]
Advantages of CCUS
for Your Business

Developing CCUS hubs can

support new investment
opportunities. [4]

CCUS lowers marginal abatement

costs and complexity of industry
sector transformation. [4]

A market for premium

lower-carbon materials can
reduce competitive impacts. [4]
 3 Major Sectors
Largest Potential Global CCUS Emissions [5]

15% Iron & Steel

21.4%
Iron & Steel

Chemicals

38%
54.3%

Cement
24.3%
Chemicals
17%
Cement

All other sectors take up the remaining 30% of

potential global CCUS emissions.
 Use Case

Petra Nova
CCUS Project
The project currently captures 60% of carbon dioxide
emitted from a 240 MW slipstream of flue gas.
The captured carbon dioxide is transported to
West Ranch oil field.

The captured carbon dioxide is then utilized for

enhanced oil recovery, where the oil is
combined with the captured carbon dioxide
and subsequently separated again.

This process increases the oil yield from 500 barrels a day
to 15,000 barrels a day. [6, 7, 8]
 How can your
business support
Singapore's effort
in CCUS?
Carbon Capture Carbon Utilisation
Invest in R&D to support Innovate processes that
enhancement of utilise captured carbon with
carbon capture methods. lower costs and energy.

Engage with Invest in oil and gas

responsible power plants companies that utilise
that capture carbon captured carbon dioxide
more efficiently. [3] more efficiently. [3]
 Top 3 Risks

Economic
It is costly to capture and utilize
carbon dioxide emissions. [3]

Technical
Risks in Enhanced Oil Recovery include
improper injection operation,
inconsistent carbon dioxide caps, and
incorrect quantitative estimation of
carbon dioxide emissions reduction. [9]

Regulatory
Lack of robust regulations for
CCUS processes and investments. [5]
 Impact of CCUS
on SDGs
CCUS offers renewable energy storage options
and decentralised energy solutions. [10]

There needs to be transparent assessment

standards to reduce carbon dioxide emissions.
[10]

Urgent climate action needs to be taken when

the energy system is considered holistically to
identify negative environmental side effects. [10]
References
[1] Cision, PR Newswire. (2020) The global carbon capture, utilization, and
storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5
billion by 2025, at a CAGR of 17.0%.
[2] United Nations. (2020) Policy Brief: The Impact of COVID-19 on South-East
Asia.
[3] Tan, A. (2021) The Straits Times. S'pore exploring hydrogen, carbon capture
technologies in decarbonisation goal.
[4] International Energy Agency. (2019) Transforming Industry through CCUS.
[5] Baker Hughes. (2020) Carbon capture, utilization, and storage needs to move
faster. Why?
[6] US Department of Energy, Office of Fossil Energy and Carbon Management.
(2020) Petra Nova - W.A. Parish Project.
[7] Evans, S. (2014). Carbon Brief. Around the world in 22 carbon capture projects.
[8] The University of Texas at Austin, Jackson School of Geosciences. (2017) Petra
Nova: Producing Power and Trapping CO2 Underground.
[9] Oraee, B., Cockerill T., Makuch Z.. (2013) Energy Procedia. Risk Assessment
and Management Associated with CCS.
[10] IASS Potsdam. (2020) Carbon Capture and Utilisation Can Advance SDGs.