Big Oil’s $1.2 Trillion Bet? WoodMac Predicts CCUS Market Surge ...Middle East

Global research and consultancy group Wood Mackenzie has predicted that the global Carbon Capture, Utilisation and Storage (CCUS) market will surge 28-fold by 2050 to 2,061 million tonnes per annum, surpassing trillions of dollars in value. According to WoodMac, countries across the globe led by U.S., Canada and Europe have committed $80 billion for CCUS so far, with just 50 CCUS projects with a capacity to store 51 million tonnes of CO2 per year currently operational. WoodMac has also predicted that the gap between capture capacity and storage…

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