Home  Journals  Economic Analysis: Theory and Practice  9(540) - 2023 September

Analysis of trends and development factors of carbon capture and storage technologies in Russia and abroad

Received: 31 July 2023

Received in revised form: 10 August 2023

Accepted: 21 August 2023

Available online: 28 September 2023

Subject Heading: Innovations

JEL Classification: O32, Q20, Q42, Q55

Pages: 1725–1745

https://doi.org/10.24891/ea.22.9.1725

Subject. The article deals with hydrogen and carbon capture, use and storage technologies (CCUS). Without them it is impossible to achieve the goals of decarbonization of the world economy in 2050. However, currently, the speed of CCUS technologies development is significantly lower than previously expected.
Objectives. The study aims to review the dynamics and factors of CCUS technologies development and analyze the most commercially promising areas of their industrial application in Russia.
Methods. The study draws on methods of literature review, content analysis of regulatory documentation, descriptive statistics, and case study. The analytical reviews of the International Energy Agency and the CCUS project database of the Global CCS Institute served as the information base of the paper.
Results. Currently, the U.S. remains the leader in the practical use of CCUS technologies due to extensive network of pipelines, through which CO₂ can be transported, high demand for carbon dioxide generated by numerous oil producing companies for use in enhanced oil recovery technologies, and government financing programs, including those introduced after the global financial crisis of 2008–2009. The most promising areas of CCUS technologies implementation are energy, heavy industry, long-distance transportation, and low-carbon hydrogen production.
Conclusions. In the world, the main barriers to CCUS technologies development are the instability of national policies of the leading countries in the field of restrictions on CO₂ emission. In Russia, these barriers are sanction restrictions on the country's energy sector, declining growth rates of hydrogen energy due to reduced access to foreign innovative developments, and increased barriers to entry into international markets of innovative energy products of the Russian Federation.

Keywords: energy transition, decarbonization, carbon dioxide capture and storage, low-carbon hydrogen

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