By 2050, it is anticipated that approximately 100 million tons per annum (MtPA) of CO2 captured on land will be transported across national borders in Asia Pacific (APAC). Shipping will play a crucial role transporting CO2 because of the large geographical mismatch between sources of captured CO2 and sequestration sites.
Meeting this demand will require up to 200 liquefied CO2 carriers—150 of which will be deployed in APAC—driving investments of up to USD 30 billion, with USD 25 billion needed in the APAC region alone.
Despite the scale of this opportunity, realising it demands coordinated action across the value chain. Key enablers include:
- Direct government support through financial and business model support incentives
- Long-term contracts for vessels and port/ terminal operators to provide commercial and operational certainty
- Clarity around CO2 purity specifications, pressure and temperature conditions, to facilitate right infrastructure development for interoperability
This webinar, with participation from stakeholders across the value chain, discussed where the sector stands today and how the industry can move to wide scale deployment over the next 5 to 10 years.
The session was hosted by Grace Lian, Manager of Partnerships at GCMD. Calvin Khaing, Principal at BCG, presented insights from the report titled “Opportunities for Shipping to Enable Cross-Border CCUS Initiatives,” which was jointly published by GCMD and BCG. The panel was moderated by Carl Clayton, Partner and Associate Director at BCG.
Esteemed panellists included:
- Cheryl Ng, Head of Commercial and Business Development APME, Shell Shipping & Maritime
- Alex Zapantis, Strategic Adviser, Emerging CCS Markets, Global CCS Institute
- Dmitry Kosyak, Angel CCS Development Manager, Woodside
- Eng Kiong Koh, Director, Projects, GCMD
Watch the webinar recording here!
