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CO2 as a Feedstock for Fuels & Chemicals
Awareness of net carbon emission and potential ways to reduce them is becoming more and more important to all industries today. A growing number of environmental, political and social drivers are placing pressure on industry to find low-cost ways to limit their contribution to the climate change problem.
A number of options exist for reducing carbon emissions and the combination of all the following strategies will likely be necessary to meet carbon stabilisation goals:
- Switch to more efficient technology with less energy consumption
- Use alternative feedstock with lower carbon content
- Establish carbon capture and geological storage
- Utilise CO2 as feedstock for industrial applications
The strong carbon pricing and equivalent regulatory mechanism will ultimately be necessary to drive widespread commercial deployment of carbon dioxide utilisation technologies.
Responding to these economics and market drivers, some of the world`s largest players in power and other industrial sectors are investing in projects to more profitably utilise CO2 for diverse industrial applications. The new environment has created an exciting tipping point in strategic partnering, investment, and construction that is driving rapid growth in commercialisation of CO2 utilisation technologies.
Mature CO2 reuse technologies as Enhanced Oil Recovery (EOR) can play a lead role in CO2 utilisation, though the emerging technologies in petrochemical, biochemical, fuel, and power energy sector are already making inroads.
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