Carbon Capture, Utilization, and Storage (CCUS) Solutions to Decarbonize LNG: Why, Where and How Much?

Zlata Sergeeva and Colin Ward
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Colin Ward: King Abdullah Petroleum Studies and Research Center

Discussion Papers from King Abdullah Petroleum Studies and Research Center

Abstract: In 2019, a new product – carbon-neutral LNG – was born. By 2021, the market for this product had grown rapidly. However, in 2022, the number of announcements about the volumes delivered to customers significantly decreased. To a large extent, this decrease was linked to credibility issues because all supplied cargoes used carbon offsets of various qualities to address emissions. Due to the lack of transparency and proper reporting, as well as global standards for the industry, the practice of trading carbon-neutral LNG has received substantial criticism from the media and stakeholders. However, considering the recent energy crisis and growing need for natural gas in certain regions, decarbonizing LNG is crucial for ensuring energy security in the coming decades.

Keywords: Carbon; carbon capture and storage; Carbon Capture and Storage (CCS); Carbon Neutrality (search for similar items in EconPapers)
Pages: 36
Date: 2024-07-01
New Economics Papers: this item is included in nep-ene and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks--2024-dp22

DOI: 10.30573/KS--2024-DP22

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