Background to the Study

The IEAGHG Cost Network meeting series shares information on the costs of deploying CCS in various applications, aiming to help identify the most cost-effective paths for deploying CCS in a range of applications.

The 7th edition of the IEAGHG CCS Cost Network Workshop was hosted at the University of Groningen, Netherlands, on 12-13 April 2023. The purpose of the workshop was to share and discuss the most current information on the costs of carbon capture and storage (CCS) in various applications, as well as the outlook for future CCS costs and deployment. For the first time, this workshop also included a session on the direct capture of CO2 from the atmosphere. The workshop also sought to identify other key issues or topics related to CCS costs that merit further discussion and study.

The workshop successfully convened global CCS experts to discuss the costs and costing methodologies relating to CCS. Key insights included the significant influence of geographic location and energy costs on CCS project viability, and the need of government support and clear policy frameworks for CCS advancement. The workshop highlighted the potential of CCS in heavy industries, e.g., cement, and the crucial role of CO2 infrastructure development. It underscored the importance of regional analyses for CCS effectiveness, the need for investment-friendly environments, and the significance of shared CO2 infrastructure in industrial clusters. The discussions also emphasised the technical feasibility of using CCS to achieve net zero emissions in coal and natural gas power plants, the need for holistic approaches in decarbonisation technologies, and the challenges inherent in establishing costs for both onshore and offshore transport and storage.