Transition Period

Carbon Capture and Storage (CCS) is a critical technology as we transition to a low carbon economy. As with any new technology, initial costs are high. However, with continued innovation and deployment, the cost of CCS technology will decrease.

CCS will overcome the current cost barriers if the proper incentive mechanisms are put in place to get initial projects under way.

In the future, CCS will be able to exist as a stand-alone industrial activity, but in order for CCS technologies to be developed and deployed now it is important for governments to provide incentives to continue to partner with industry on capture projects, and to develop a robust (EOR) industry. This is demonstrated in the chart below: