Carbon Capture, Use, and Storage (CCUS)
Technology, one of the main ways to curb climate change
We are convinced that it is the driving force behind the energy transition, which aims to meet energy demand without increasing CO2 emissions.
In order to become carbon neutral, it will not be enough to stop emitting CO2, but we will need technology to capture and reuse it, help us to be more efficient, find new ways of generating and consuming energy and create new products from waste.
We are currently pursuing new technological developments that will allow us to advance the energy transition in an orderly and sustainable manner: Carbon Capture, Storage and Use (CCUS) technology, green hydrogen, e-fuels. In addition, should this not be sufficient, we will offset emissions through reforestation and other natural climate solutions to achieve net zero emissions by 2050.
What is carbon capture, use, and storage (CCUS)?
Carbon capture, use, and storage (CCUS) is the set of technological processes aimed at reducing CO2 from the atmosphere by safely capturing and storing it for future use. In addition to offering another solution to the gas reduction policy, it brings about the possibility to use it in hydrocarbon recovery processes and other future uses currently under development.
CCUS technology plays an important role in achieving the goal of limiting the global average temperature increase to 2°C by end of century. This technology is able to substantially reduce greenhouse gas (GHG) emissions from the most carbon-intensive fuels, especially in sectors such as electricity and industry. CCUS is also needed to reduce emissions in industrial sectors such as steel, cement, aluminium, chemicals, etc., where there is currently no alternative for decarbonization.
Technological initiatives for promoting CCUS
Oil and gas will continue to play an important role in the energy transition and CCUS will make it possible to reduce emissions in the electricity sector or other energy-intensive industries. We help develop these technologies as a member of the OGCI through the investments made by OGCI Climate Investments fund.
Another initiative involves promoting the circular economy. This model guarantees sustainable growth as it fosters resource optimization, feedstock consumption reduction, and waste recovery.
We continue to innovate, and at the Technology Lab we work on research projects to capture CO2, store it, and use it as a raw material..
We offer our customers the option to share in the offsetting of emissions associated with the use of our products through mechanisms based on Natural Climate Solutions or the participation of Fundación Repsol in Sylvestris, a company specialiszng in CO2 absorption projects through large-scale reforestation.
Carbon offsetting is an environmental commitment initiative that neutralizes CO2 emissions by contributing to projects that capture or prevent CO2 emissions into the atmosphere. We currently offer our fuel customers the Net Zero Emissions Commitment program which offers voluntary carbon offsetting linked to each refueling.
Forests play a fundamental role in the fight against climate change, fixing carbon dioxide in their tissues, and preventing it from remaining in the atmosphere. At Repsol, we are committed to this natural climate solution by participating in different initiatives.