October 21, 2025

Carbon Capture & Storage technology captures CO2 from industrial sources like power plants, transports it, and permanently stores it deep underground in geological formations such as saline aquifers or depleted oil and gas reservoirs for enhanced oil recovery. As of the end of 2024, global operational CCS capacity is 51 million metric tons of carbon dioxide/year (MtCO₂/yr), with an additional 50+ MtCO₂/yr under construction over the 2025-2027 timeframe. In 2024 Global CO2 emissions from energy combustion and industrial processes were 37,600 MtCO₂/yr thus, current CCS global capacity represents only 0.16% of total emissions. Figure 1 shows global CCS capacity split between 51 MtCO₂/yr of operational and 51 MtCO₂/yr under-construction. The overall trend worldwide points to North America leading the way with Asia and the Middle East driving the next wave of CCS expansion. Considerations:

• The United States dominates with 22 MtCO₂/yr of operational facilities, almost half of the global total, and an additional 12 MtCO₂/yr received final investment decision and under construction .
• China is quickly expanding with 9 MtCO₂/yr in development compared to just 4 MtCO₂/yr operational.
• While Brazil uses 11 MtCO₂/yr from associated natural gas to enhance 3.3 MMBbl/d of oil recovery from the Santos Basin.
• Saudi Arabia, the UAE, and Malaysia are currently focused on large-scale future capacity.
• Canada and Australia maintain balanced growth while Europe (Netherlands, Norway, Denmark, Hungary, Iceland) and smaller players like Oman and Papua New Guinea add incremental volumes.

Figure 1: Global CCS Capacity

Figure 2 shows the cumulative growth of global CCS capacity. Operational capacity has steadily expanded from 33 MtCO₂/yr in 2014 to just over 50 MtCO₂/yr in 2023. In 2024, operational capacity rises only slightly to 51 MtCO₂/yr although a sharp inflection appears with over 10 MtCO₂/yr entering construction, signaling the strongest future pipeline of projects to date. By 2027, the construction capacity reaches more than 51 MtCO₂/yr, positioning the sector for a potential doubling of global CCS capacity once these projects become operational.

Figure 2: Global Cumulative CCS Capacity Growth

References:

“Global Status Report – Global CCS Institute.” Global CCS Institute, 2024, https://www.globalccsinstitute.com/resources/global-status-report/

“Carbon Capture and Storage in the United States.” Congressional Budget Office, 13 Dec. 2023, https://www.cbo.gov/publication/59832