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Widespread carbon capture in Southeast Asia unviable without carbon pricing: report
(Eco Business, 27 Apr 2022) Applications may be limited to natural gas processing, where carbon dioxide fumes are easier to capture. Pairing carbon capture with fossil fuel power generation, touted as a viable decarbonisation strategy, may be an expensive pipe dream.
Trapping carbon dioxide emissions may be technically feasible, but commercial success could evade Southeast Asia due to its high cost and “practically non-existent” carbon pricing mechanisms in the region, a new report found.
The hurdle is especially steep when applying carbon capture, utilisation and storage, or CCUS, to fossil fuel power generation, despite the pairing being widely touted as a climate solution, particularly for Asia where there may be high financial penalties in closing down young coal plants.
Southeast Asia policymakers need to be clear on the “myths and realities” of CCUS, according to the Institute for Energy Economics and Financial Analysis, a United States-based think-tank.
“It should not distract from the adoption of other lower-cost and proven carbon abatement options in renewable energy and grid integrations,” said report author, Putra Adhiguna.
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Eco Business, 27 Apr 2022: Widespread carbon capture in Southeast Asia unviable without carbon pricing: report
