Tag Archives: carbon sequestration

Dumping Carbon in the Seabed

Oil companies have for decades made money by extracting carbon from the ground. Now they are trying to make money putting it back. Energy giants such as Exxon Mobil and Royal Dutch Shell are pushing carbon capture and storage (CCS)—where carbon is gathered and buried underground—as part of a drive to reduce both their own and their customers’ emissions. Executives say the service could become a new source of income when the industry is grappling with how to adapt to a lower-carbon economy.

Oil companies have long captured carbon from their operations, albeit mostly to produce more oil. Now they want to retool that skill as a service they can sell to heavy-polluting industries like cement and steel, burying their carbon in the ground indefinitely for a fee, rather than releasing it into the atmosphere. Yet critics question the environmental benefits and high cost of such projects.

In 2021, Shell, Total and Equinor launched a joint venture to store carbon in a rock formation thousands of feet beneath the seabed off the coast of Norway. The state-backed Northern Lights project is set to be the first time companies outside the oil industry will be able to pay to have their carbon gathered and stored. Most carbon-storage projects rely on government funding. Norway is covering about 80% of the $1.6 billion cost of the Northern Lights project, with the rest split equally between Shell, Equinor and Total.

Exxon has said it plans to form a new business unit to commercialize carbon capture and storage, forecasting it could become a $2 trillion market by 2040. Chevron has formed partnerships on storage projects, while BP is codeveloping storage projects in the U.K. and Australia. Oil executives’ sales pitch to carbon-intensive companies: We will provide your energy, then take back the carbon to minimize your footprint. Carbon capture and storage iss becoming a business rather than just a solution. 

The U.S. offers companies a tax credit of as much as $50 a metric ton of carbon captured, while the U.K., Norway and Australia have collectively committed billions of dollars of funding for carbon-capture projects. But There are  concerns about whether storage sites could leak carbon. In Europe, public resistance to land-based storage has led to the use of aquifers and depleted gas fields in the North Sea….In the Norway project, carbon will be transported by ship around the bottom of the country before being pumped offshore via a 68-mile pipeline and then injected into an aquifer under the seabed. BP is working on a similar concept for a project it will operate in northeast England, where carbon will be collected from a gas-power plant and various industrial sites, then stored under the North Sea. “We’ll capture the carbon, we’ll take it offshore, we’ll stuff it underground,” BP Chief Executive Bernard Looney recently said of the project. “Taking the carbon back is what I like to describe it as.”

Excerpts from Sarah McFarlane, Oil Giants Turn to Carbon Storage, Apr. 20, 2021

How Mining Waste Can Help us Deal with Climate Change

Every year, mining and industrial activity generates billions of tons of slurries, gravel, and other wastes that have a high pH.

These alkaline wastes, which sit either behind fragile dams or heaped in massive piles, present a threat to people and ecosystems. But these wastes could also help the world avert climate disaster. Reacting these wastes with carbon dioxide (CO2) from the air solidifies them and makes them easier to handle.

At the same time, carrying out this type of an operation on a global scale could trap between 310 million to 4 billion tons of CO2 annually, according to recent surveys. That could provide the world with a much needed means of lowering atmospheric CO2.

But there are major hurdles. Governments will need to offer incentives for mineralization on the massive scale needed to make a dent in atmospheric carbon. And engineers will need to figure out how to harness the wastes while preventing the release of heavy metals and radioactivity locked in the material…

If regulators verified mines and other alkaline waste producers as CO2 sequestration sites…incentives would skyrocket, companies could claim tax benefits, and industry might start to tackle climate change on the grand scale that’s necessary.

Excerpt from Robert F. Service, The Carbon Vault, Science, Sept. 4, 2020