Bureau Veritas Report Highlights The Potential Of Carbon Capture Technologies And The Development Of Carbon Value Chains For Shipping
Bureau Veritas Report: Assessing Carbon Capture & Storage Technology in the Marine Market
Paris La Defense, 16 May 2024 – Bureau Veritas (BV), a global leader in the Testing, Inspection, and Certification (TIC) industry, has released a report which assesses the technical viability of current carbon capture & storage (CCS) technology within the marine market, and highlights the vital role that shipping can play across the entire CCS value chain.
The current status of several promising CCS technologies is described in the technology paper, Onboard Carbon Capture: An Overview of Technologies to Capture CO2 Onboard Ships. The study examines the technical and financial feasibility of deploying CCS technology aboard ships, emphasising the findings of significant feasibility studies that indicated capture rates of between 82% and 90% might be attained.
The research also describes the operational and worldwide regulatory frameworks that still need to be streamlined, as well as other obstacles to the wider deployment and integration of CCS technologies. There have been questions about the safe management of CO2 onboard as well as the amount of space available on ships for CCS devices.
While alternative fuels are generally seen as the key to ushering in a new era of sustainable shipping, the BV report recognizes that the role of carbon capture technologies in decarbonizing the maritime sector cannot be overlooked. The paper also outlines the significant role that shipping can play in facilitating the development of a global carbon capture, utilization, and storage (CCUS) value chain as a major mode of CO2 transportation, particularly given the growing interest in offshore CO2 storage sites. Globally, some 230 million metric tons of CO2 are already used in industrial applications every year, including in the production of fertilizers, steel, and food and beverages.
