laying the foundation to realize carbon capture’s potential

Carbon capture, utilization, and storage (CCUS) is one way to help the world meet its lower carbon energy goals. Helping it succeed at scale will require innovation, partnership and policy.

That was the message Chris Powers, Chevron’s vice president of CCUS, gave at CERAWeek 2024.

According to climate and energy experts, CCUS is an essential tool to help lower the world’s carbon intensity.

“We’re making progress every day toward developing ever-cleaner energy that’s also affordable and reliable. CCUS is needed to meet the goals of the Paris Agreement. It will be key in lowering the carbon intensity of harder-to-abate sectors like refining, power and cement.”

Building foundational projects today will create businesses that can grow and scale over time. Companies need to continue to work with each other, governments and academic institutions to advance more carbon capture projects.

One way to work together is through policy. The right regulatory frameworks can help scale up this technology.

“Expansion depends on a stable and supportive policy environment,” Powers said. “Reliable, long-term market incentives, public infrastructure investments and streamlined permitting can dramatically accelerate growth.”

Chevron has decades of experience with CCUS projects, including: 

• The Gorgon Project in Australia, one of the world’s largest carbon capture and storage systems.
• The Bayou Bend Project in the Texas Gulf Coast.
• Svante’s carbon capture pilot project in California (Cooperative Agreement No. DE-FE0031944).