Consoritum Conducting Pre-feasibility Study for Carbon Capture Development in Asia

Summary

A consortium, including ArcelorMittal Nippon Steel India, JSW Steel, Hyundai Steel, and BHP, is conducting a pre-feasibility study to assess the development of carbon capture, utilization, and storage hubs across Asia. The study aims to explore potential applications of captured CO2 in industrial processes, particularly in hard-to-abate industries like steel manufacturing, focusing on large-scale project development potential. Reuters+ 2

Impact Analysis

The event is classified at the industry level as it impacts sectors involved in carbon capture and heavy industries like steel manufacturing. The direct impact includes exploring the feasibility of CCUS technologies in reducing emissions in hard-to-abate sectors. The first-order effects are potential advancements in carbon reduction strategies and technological solutions for steel manufacturers. Second-order effects may include cross-sector adoption of CCUS technologies, influencing energy and raw material markets. Investment opportunities could arise in companies involved in CCUS technology development, steel industry stakeholders adopting these technologies, and firms providing technological solutions for carbon capture. Reuters+ 2