The objective of this study is to explore and provide evidence on the nature and extent of the economic opportunity presented by CCUS in Scotland. This includes assessing the implications of CCUS scenarios differing in level, focus, geography, and timing of CCUS deployment, including the potential for development of a carbon management sector.
Methods
The consultants undertook stakeholder interviews, desk research and economic analysis.
Findings
CCUS is a versatile technology which can be adopted in multiple existing sectors, namely industry and power. The study looks at four scenarios investigating different hypothetical levels of CCUS uptake in each of these sectors. It finds that Scotland has an enormous potential to offer cost-effective storage of CO2, partially due to the plans to reuse offshore pipelines. Bringing to reality the CCUS value chains considered in the scenarios would require between £9bn and £30bn in total cumulative investment up to 2050.
Recommendations
This study identifies multiple actions required to enable the roll-out of CCUS in Scotland. This includes support for core projects to initiate a CCUS value chain.
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