Assessment of Market Potential for Carbon Capture for a Global Engineering and Technology Firm
Quick Overview
The client – a global engineering and technology firm having offerings in the offshore segment, wanted to assess potential business and find a suitable technology partner for carbon capture solutions for offshore assets
Client success details
With the support and insights provided by FutureBridge, the client gained a FutureBridge advisory enabled the client to gain a comprehensive understanding of the evolution of hydrogen demand across the industrial, power, and transportation sectors, as well as the relevant policy and regulatory benefits in the USA, Canada, and European Union.
The key questions addressed:
 While countries like Iran and the UAE lead in offshore oil and gas production, favorable policy support for offshore CCUS makes Norway, Canada, the US, and the UK more attractive for deploying such technologies. However, offshore CCUS will face competition from electrification of offshore oil and gas platforms in Norway and the UK. |
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We adopted a first-principles-based approach to evaluating the business potential for offshore CO2 capture through the following steps:
- Estimation of total combustion CO2 emissions from offshore oil and gas fields
- Evaluation of favourable conditions for CO2 sequestration, including policies and regulations, existing and declared CCUS projects allied infrastructure, to identify the most suitable regions for its adoption at offshore oil and gas platforms.
- Identification of existing and upcoming technologies suitable for offshore oil and gas platforms to capture carbon dioxide.
FutureBridge recommended the most suitable regions for deploying CO2 capture technologies for offshore oil and gas platforms. Additionally, FutureBridge identified the CCUS technologies and potential partners best suited for such applications.
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