October 23, 2025

Carbon Capture and Storage (CCS) has become a central component of decarbonization strategies in the natural gas industry. Incorrys review of more CCS facilities related to natural gas production and processing — ranging from early projects such as Occidental’s Terrell plant (1972) to mega-scale facilities like Saudi Aramco’s Jubail Hub (scheduled for 2027). Overall CCS project economics should be analyzed based on multiple factors, including capital expenditures (CAPEX), operating cost, economic benefits such as Enhanced Oil Recovery (EOR), and government incentives. This analysis includes assessment of CAPEX only, which can be served as an input to economic evaluation of CCS project. The analysis was performed based on following assumptions:

• Reported costs are expressed as CAPEX benchmarked in US$/ton of CO₂ capacity, excluding operating expenditures (OPEX).
• “Inflation-adjusted” figures are approximated using available CAPEX data escalated into 2025-equivalent USD values.
• The analysis was performed based on publicly available data; if data was not available to match CAPEX with CO₂ capture capacity, the project was not included.
• Capture capacity utilizes design nameplate capacity is measured in million tons per annum (MtCO₂/y)

Figure 1 shows inflation adjusted capital cost per ton of CO₂ captured in 2025 USD, showing both operating and under construction projects, and sorted from highest to lowest CAPEX per tonne.

Figure 1: CCS Worldwide Cost

Conclusions
The analysis shows that average CAPEX per ton of CO₂ does not significantly change overtime: average CAPEX dropped to around $290/ton for projects completed or expected to be completed after 2020 down from $330/ton before 2020. However, it does not include potential cost escalation of projects under construction. Also, average CAPEX per ton of CO₂ remains compatible for all three different technologies used to store CO₂. Average CAPEX for CCS in deep saline formation is $320/ton, while CCS for EOR and depleted fields are $270/ton.

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