Orient Magazine Issue 81 - April 2021 - Page 64


Let ' s Discuss ... Carbon Capture , Utilisation & Storage and its Potential in Asia

Contributed by Ben Arnott of the Energy & Utilities Committee
Carbon Capture , Utilisation and Storage ( CCUS ) is fast becoming an important emissions reduction solution that can be applied across a range of large-scale energy and industrial systems . Now recognised as a prerequisite for decarbonisation and essential to meet net zero targets in the timescales set by host governments , CCUS is a key technology as it will form a vital link to the hydrogen sector , another key decarbonisation vector .
As CCUS makes its move to the global mainstream , it is likely to become an attractive business opportunity for the finance community and investors as a range of businesses seek to decarbonise , stimulating significant investment in carbon dioxide capture , carbon dioxide usage , gas transportation , and sequestration . Supporting these businesses is important in financing the energy transition .
BritCham ’ s Energy & Utilities Business Committee held a panel discussion in March 2021 on the viability of CCUS in the ASEAN region with leading players from the UK and region involved in project development and finance . The panel discussed the Technology , Cost and Regulatory framework with a showcase of comparable projects including major integrated project examples from the UK , retro-fit solutions , and an examination of the incentive structures in place in US and Europe . The panel comprised :
• Ben Arnott , Managing Director , Energy & Natural Resources , Reserve Based Finance of Societe Generale
• Allan Baker , Managing Director , Global Head of Power Advisory and Project Finance at Societe Generale
• Dr Nick Cooper , Chief Executive Officer at Storegga Geotechnologies
• Alexander Tait , Appraisal Engineer- Global Concept Development at BP
• Jinmiao Xu , Energy Specialist , Energy Sector Group , Sustainable Development and Climate Change Department at Asian Development Bank
... CCUS is now moving to the front and centre of the minds of the world ’ s largest energy companies with tax incentives , grants and other forms of incentive mechanism now emerging to support development of the industry .