Developing CCUS Projects in Colorado & Wyoming - Day 2
The momentum and vital need for carbon capture, utilization, and storage (CCUS) technologies has never been greater and two states that stand out with opportunities for CCUS are Colorado and Wyoming.
The US leads the world in facilities in operation or advanced development with 38 projects, including projects in both Colorado and Wyoming in power generation, gas processing, and cement production. New projects in biofuels and hydrogen production are also in development as these states are attracting more and more interest in CCUS from the business community.
Both states have policies that encourage CCS, albeit they differ significantly in their approach. In 2019, Colorado established ambitious climate change goals (50% reduction in greenhouse gas emissions by 2030, and 90% by 2050), but have not yet established robust support specific to CCS. Wyoming, on the other hand, has provided more direct policy support for CCS. The state is establishing energy portfolio standards that require by 2030 a percentage of electricity to be dispatchable, reliable, and low-carbon, encouraging CCS deployment. Wyoming recently was granted primacy by the USEPA to approve Class VI well permits for permanent sequestration of CO2. The state has also developed a pipeline corridor initiative to facilitate the development of statewide and regional infrastructure for the transport and management of CO2.
With experience in CO2 storage, oil & gas expertise, and policy commitments to decarbonization, Colorado and Wyoming are both well positioned to be leaders in the carbon management economy.
During this virtual seminar, business leaders and experts in capture technology, geology, transportation infrastructure, economics, and more will provide participants with a deep dive into the economics of the 45Q tax credit, and guidance on how to execute a CCUS project in Colorado and Wyoming, as well as other states in the immediate region.