The CCUS Project Development Landscape
Carbon capture, utilization, and storage has moved from experimental technology to a rapidly scaling industry. As of early 2025, the IEA tracks over 700 CCUS projects across the global pipeline, with 79 facilities now operational across nine industries. Total capture and storage capacity in operation exceeds 50 million tonnes of CO₂ per year—and the pipeline suggests this could reach 430 Mt/yr by 2030.
Who Develops CCUS Projects?
The CCUS developer ecosystem spans several distinct categories:
- Integrated energy majors
- ExxonMobil, Shell, Equinor, TotalEnergies, and Chevron each operate multiple CCUS projects, leveraging subsurface expertise from oil and gas operations. These companies have announced individual CCS targets ranging from 10 to 30 MtCO₂/yr by 2030.
- Pure-play CCUS companies
- 1PointFive (Occidental subsidiary), Carbon Clean, Svante, Climeworks, and Storegga focus exclusively on capture or storage. They offer specialized technology and operate as project developers or technology licensors.
- Industrial conglomerates
- Mitsubishi Heavy Industries, Honeywell, Linde, and Siemens provide capture equipment and engineering services, often forming JVs with storage asset owners.
- Infrastructure developers
- Summit Carbon Solutions and Wolf Carbon Solutions build CO₂ transport pipelines connecting emitters to storage sites, creating CCUS hub infrastructure.
Regional Hotspots
| Region | Projected Capacity by 2030 | Number of Projects |
|---|---|---|
| United States | 244.8 MtCO₂/yr | 266 |
| Norway / Northern Europe | 47.7 MtCO₂/yr | 39 |
| Middle East (GCC) | ~15 MtCO₂/yr | 20+ |
| United Kingdom | ~20 MtCO₂/yr | 30+ |
Technology Pathways
Post-combustion capture dominates the operational fleet, but direct air capture (DAC) is scaling fast. Occidental's STRATOS facility in Texas—designed for 500,000 tCO₂/yr—will be the world's largest DAC plant when fully operational. Meanwhile, Svante's solid-sorbent approach and Carbon Clean's modular CycloneCC units represent a shift toward factory-manufactured capture equipment that can be deployed faster and at lower cost than traditional bespoke installations.
Commercial Models
CCUS project developers monetize through several mechanisms: carbon credit sales (both compliance and voluntary markets), CO₂-enhanced oil recovery, carbon removal purchase agreements with corporations like Microsoft, and government incentives such as the US 45Q tax credit offering up to $180/tonne for DAC with geological storage.