Oil Platform

48% increase in CO2 capture

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Scaling up
through 2023

The capture capacity of CCS projects in development, in construction or operating has increased 48% since the 2022 report – the biggest annual increase since upward momentum started in 2018. Total capture capacity of the CCS project pipeline has grown at a compound rate of more than 35% per annum since 2017.

The number of CCS facilities in the development pipeline is also at an all-time high. As of July 2023, there are 392 projects in the pipeline representing a 102% year-on-year increase. Since the 2022 report, 11 new facilities commenced operations and 15 new projects started construction.

Rapid escalation

We are now seeing a rapid escalation in the development of new CCS projects, although relatively few have yet advanced to operation. The impact of recent policy developments, notably in Europe and North America, is expected to be a sustained increase in the number of CCS projects in development, and a greater proportion of them successfully progressing to construction. Now there are far fewer cost surprises and policy drivers are much stronger. The game has changed.


198 New

198 new facilities have been added to the development pipeline bringing the current total to 41 projects in operation, 26 under construction and 325 in advanced and early development.



The level of policy support from governments has reached an historic high in 2023, strengthening the business case for CCS and resulting in the CCS project pipeline growing more rapidly in the past year than ever before.



11 new countries have registered CCS facilities in various stages of development since the 2022 report, while Australia has overtaken the Netherlands to join the US, UK, Canada and China in the top five countries for CCS deployment.

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