In order to develop integrated carbon capture and storage solutions, Fluor Corporation announced its memorandum of understanding (MOU) with Carbfix, the first carbon dioxide (CO2) mineral storage operator in the world. Together, the businesses seek to lessen the effects of climate change by assisting in the decarbonization of challenging industries with high greenhouse gas emissions, such as cement, steel, and aluminum.
Directors of Dakota Gas approved the construction of the Dakota Carbon Pipeline, a 6.8-mile pipeline that will transport collected CO2 from the Great Plains Synfuels Plant to a long-term geologic storage reservoir close to the plant.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 936
Published Date: Aug 04, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the market are rising demand for power generation, growing need to recover oil, and surge in use of CCS in producing fertilizers.
The market size of carbon capture and storage (CCS) is anticipated to attain a CAGR of 15% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Exxon Mobil, Honeywell International Inc, Aker Solutions, Dakota Gasification Company and others.
The oil & gas sector segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.