Carbon Capture takes a kicking17 Apr 2024 19:44
A report out today from the IIEFA kicks CCUS for green steel into the long grass, and endorses DRI as the way forward.
Which means Zanaga, but we all know that.
The market doesn't.........at least not yet. Just wait. Less than 2 weeks to go now.
Key Findings
Over several decades of implementation in a range of sectors, carbon capture, utilisation and storage (CCUS) has accumulated a track record of underperformance and failure.
Major steelmakers are turning increasingly to direct reduced iron (DRI)-based steelmaking to replace coal-consuming blast furnaces. CCUS faces being left behind as it was in other sectors like power generation.
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The German think tank Agora Industry highlights that, since 2020, commercial-scale project announcements for new DRI-based steel plants and for CCUS projects for blast furnace-based steelmaking have developed very differently. To date, virtually all steel companies that plan to build low-carbon steelmaking capacity at commercial scale have opted for hydrogen-based or hydrogen-ready DRI plants, not CCUS. The 2030 project pipeline of DRI plants has grown to 94 million tonnes a year (Mtpa), while the pipeline for commercial-scale CCUS on blast furnace-based operations amounts to just 1Mtpa.
https://ieefa.org/resources/carbon-capture-steel