Policy and market uncertainty continues to cast a shadow over the hydrogen, CCUS and biomethane sectors – and a dedicated session at the Gas, LNG and Future of Energy conference in London explored the latest developments.
Mhairidh Evans, Vice-President Global Head of CCUS Research at analyst group Wood Mackenzie, said, “It looks like the 45Q tax credit, probably the most famous CCS incentive globally, will stay, but almost $4bn of funding for projects has been pulled. So what we’re seeing is players in the US and Canada, to some extent, ‘tap the brakes’ on their investment decisions.”
She said the slowdown is expected to last “for a good year yet”.
Nonetheless, CCUS has a “pretty decent role to play” in addressing Scope 1 emissions for gas production and processing and that also extends to enabling hydrogen and ammonia production, too, even if it will be “small and niche” in tackling overall emissions.
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