Carbon capture market to grow to $4 trillion by 2050
16:36 22.04.2022 7651
ExxonMobil estimates that by 2050 the market for carbon dioxide (CO2) capture and storage will be $4 trillion. This is stated in the presentation of the company, held this week, according to Neftegaz.RU.
This is about 60% of the oil and gas market, which by 2050 will amount to 6.5 trillion US dollars.
According to the International Energy Agency (IEA), carbon capture is an important technology for reducing emissions into the atmosphere.
Capture technology includes capturing CO2 from fuel combustion or industrial processes; its transportation by sea or pipeline; stored underground in geological formations or used as a resource to create products.
Global oil and gas majors are investing to make carbon capture and storage a business. This is important because international organizations such as the Intergovernmental Panel on Climate Change (IPCC) have identified this technology as key to mitigating global warming.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Products of oil refineries were sold at the auction
Last week, 35 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
Dynamic development of national investments is carried out at the fields of Turkmenistan
Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov, during an extended meeting of the government last Friday, reported on the work carried out by the oil and gas complex to increase oil and natural gas production, as well as the timely development of national investments in the coming years.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.