Despite the high expectation in decarbonizing the fossil fuels sectors for years, Carbon Capture and Storage (CCS) has not been scaled up. In the next 5-10 years, will comprehensive technology be a game changer in global climate mitigations? Can the oil and gas giants in the Middle East countries sustain their business in the future by both producing carbon as usual and sinking carbon as a world carbon storage hub? May carbon markets, either regional or national, make CCS business cost-effective? How can the governments from the major economies provide sufficient incentives to speed up the development and deployment of CCS? Dr. Xu Yuan, an associate professor at the Chinese University of Hong Kong, discusses his perspectives and opinions on these questions.
Despite the high expectation in decarbonizing the fossil fuels sectors for years, Carbon Capture and Storage (CCS) has not been scaled up. In the next 5-10 years, will comprehensive technology be a game changer in global climate mitigations? Can the oil and gas giants in the Middle East countries sustain their business in the future by both producing carbon as usual and sinking carbon as a world carbon storage hub? May carbon markets, either regional or national, make CCS business cost-effective? How can the governments from the major economies provide sufficient incentives to speed up the development and deployment of CCS? Dr. Xu Yuan, an associate professor at the Chinese University of Hong Kong, discusses his perspectives and opinions on these questions.