VANCOUVER, British Columbia, May 28, 2019 /PRNewswire/ -- Touted by United Nations[1] as a necessary and ready-to-go technology in the urgency to mitigate climate change, carbon capture and storage (CCS or CCUS) will be widely profiled and discussed at this week's Clean Energy Ministerial (CEM). CEM is a global gathering of international energy ministers with the common goal to advance clean energy technology, to share lessons learned and best practices, and to encourage the transition to a global clean energy economy.
During CEM, CCS will be championed by the likes of Rick Perry, the US Secretary of Energy; Fatih Birol the head of the International Energy Agency; Michal Krutyka the Minister of Energy for Poland and President of COP24; among others in two primary events on Wednesday May 29th at the Vancouver Convention Centre.
Internationally there is recognition that definitive action is needed to support the world's ability to tackle the climate crisis. Large-scale CCS is action that facilitates deep cuts in greenhouse gas emissions (GHGs). The International CCS Knowledge Centre spearheads the open sharing of CCS best practices, globally. With the hosting of a high-level panel discussion on cost and risk reduction, the offering of a pavilion dedicated to CCS at CEM's Innovation Showcase, as well as a tour of SaskPower's Boundary Dam 3 CCS Facility in Saskatchewan, Canada for delegates on the heels of CEM, the International CCS Knowledge Centre is underscoring that if the world is serious about emission reduction, then it better be serious about CCS.
Despite its proven success and accessibility, CCS has suffered a perception of high cost and thus lack of investment. With the advent of innovation toward second generation[2] in the technology, costs are shown to plummet by 67%, per tonne of carbon dioxide (CO2) captured, opening opportunities for investment. During CEM, CCS events will have a focus on the key conditions needed to attract financing for the next wave of CCS projects.
CEM's designated CCUS Initiative kicks off the discussions on CCS with a ministerial session, titled: Accelerating CCUS Together - Financing a key piece of the clean energy puzzle. This will be followed by an in-depth exploration of hurdles and possibilities in a panel discussion co-hosted by the International CCS Knowledge Centre and ClearPath, titled: Advancing CCUS - A Deep Dive on Cost & Risk Reductions.
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"At the International CCS Knowledge Centre, we are proud to showcase CCS for its critical role in reducing GHGs in a way that actively supports global climate goals as well as helps ensure stable economies. CCS is proven, reliable and now cheaper. It is ready and designed for the world."
-Mike Monea, President & CEO, International CCS Knowledge Centre
For a full listing of CCS events at CEM, click here.
1 CCS is considered essential in three of the four pathways to keep global warming within 1.5oC - in the United Nations' Intergovernmental Panel on Climate Change: Global Warming of 1.5 Degrees Celsius
2 The Shand CCS Feasibility Study, 2nd generation study, shows that compared to the Boundary Dam 3 CCS project (BD3), a CCS system at Shand could see capture capital cost reductions of 67% per tonne of CO2 captured as well as 92% in potential savings to plant integration capital cost
BACKGROUND INFORMATION
List of Speakers at CCS Events at CEM
ACCELERATING CCUS TOGETHER Financing a key piece of the clean energy puzzle
This session will ensure minister-level dialogue on key conditions for
11:00 AM - Wed. May 29 Meeting Room #211
_______________________________________________________ | ADVANCING CCUS A Deep Dive on Cost & Risk Reductions
This event will be an exploration of the hurdles & possibilities in advancing
12:30 PM - Wed. May 29 International CCS Knowledge Centre Pavilion, Booth 606 _______________________________________________________ | |
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What is Carbon Capture and Storage (CCS / CCUS)?
CCS is a clean technology that when operated at large scale, captures significant amounts of CO2 emission before they are released into the atmosphere. The capture process can be applied on industries such as steel, cement, and energy, like, coal and natural gas to support vast cuts in emissions. Storage or utilization and storage refer to downstream placement of the captured CO2 - for large quantities CO2 is permanent stored in very deep geological formation, such as sandstone or depleted oil fields. For more info, IEA Greenhouse Gas R&D Programme (IEAGHG): What is CCS?
About the International CCS Knowledge Centre (Knowledge Centre): Operating since 2016 under the direction of an independent board, Knowledge Centre was established by BHP and SaskPower with a mandate to advance the global understanding and deployment of large-scale CCS to reduce global GHG emissions. The Knowledge Centre provides the know-how to implement large-scale CCS projects as well as CCS optimization through the base learnings from both the fully-integrated Boundary Dam 3 CCS Facility and the comprehensive second-generation CCS study, known as the Shand CCS Feasibility Study. For more info: https://ccsknowledge.com/
Jodi Woollam, Head of Communications & Media Relations, jwoollam@ccsknowledge.com, T: +1-306-565-5956 / M: +1-306-520-3710; ccsknowledge.com, +1.306.565.(KNOW)5669 / 198 - 10 Research Drive / Regina, SK S4S 7J7Canada
