China's CNOOC Ltd has moved into the construction phase of the Dongfang 1-1 CCUS project. This offshore initiative focuses on carbon capture, utilization, and storage within a gas field to reduce industrial emissions. The project represents a significant step in China's offshore decarbonization efforts, utilizing existing gas field infrastructure to store captured carbon dioxide.
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CNOOC is starting construction on the Dongfang 1-1 CCUS project. It is a straightforward offshore carbon storage play in a gas field. Worth watching to see if they actually hit their capture targets.
The announcement is thin on the actual numbers. Does anyone know the planned injection capacity or the timeline for full operations? Construction start is one thing, but the operational ramp is where these usually stall.
The real question is the incentive structure. If this is just for corporate ESG reporting, the scale will stay small. If there is a national carbon price or subsidy tied to the tonnage stored, we will see more of these.
Exactly. Without a clear carbon accounting standard for these offshore sites, it is hard to verify the actual climate impact versus just enhancing oil and gas recovery.
