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24 Mar 2023


Carbon Capture Utilization and Storage (CCUS) (Current Issue No.3393 Full Ed.)


        Entrepreneurs in Thailand have begun to pay attention to the use of CCUS in the production process to achieve their net-zero targets, particularly those in the petroleum, power plant, chemicals and cement industries. For E&P companies, they have deployed CO2  capture at their petroleum exploration fields or in areas where there are potential underground rock layers. The use of CO2 in the processing of household and industrial products, including the establishing of a CCUS hub in Thailand may require approximately THB26.5 billion in investment.
        Meanwhile, a total of 42.5 million tons/year of CO2  has already been captured by CCUS projects that have just been constructed abroad, and an additional 199 million tons/year of CO2 will be captured by CCUS projects that are being built and developed. Existing CCUS projects are mainly in the US, Canada and the European Union, with the total investment in CCUS reaching USD2.343 billion during 2021. Their accumulated investment in CCUS from 2018 to 2021 totaled USD7.035 billion, particularly by the industrial, power, logistics and CO2 capture businesses.
        The cost of CCUS is still high and Thailand must import this technology. Since the government incentives remain inadequate, it is expected that CCUS will gradually be adopted in the country. However, if the public sector offers financing assistance and establishes the CO2  prices like those in other countries, this will substantially help boost the development and deployment of CCUS in Thailand’s industrial sector.  

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