The Business of Offshore CO₂ Storage: A New Market for Maritime Infrastructure

The Business of Offshore CO₂ Storage: A New Market for Maritime Infrastructure

Carbon capture and storage (CCS) is gaining traction, with 734 commercial facilities in operation or development, up from 628 last year. This growth presents a new market for maritime infrastructure, as CCS projects often require offshore storage sites.

The global CCS industry is expected to grow, with the International Energy Agency (IEA) predicting a need for 7,600 CCS facilities by 2040 to meet climate goals. This could lead to increased demand for offshore support vessels and other maritime services.

However, the article does not specify any direct impact on seafarer pay, careers, or safety.