Europe needs 65 more CO2 carriers and 33 new ports by 2050 to meet CCUS goals, Xodus report says

A new report from energy consultancy Xodus Group says Europe will need 65 additional CO2 carriers and 33 new ports by 2050 to hit carbon capture targets. The report screened roughly 850 European ports and identified up to 60 that could route captured emissions to offshore storage, mainly in the North Sea. Shipping is expected to move up to 79 million tonnes of CO2 per year by 2050, even as pipelines dominate high-volume corridors. The North Sea basin could hold over 150 billion tonnes of CO2, according to the North Sea Transition Authority. Projects like Northern Lights are already adding liquefied CO2 carriers, and UK and European ports signed agreements in January to study CCS shipping corridors. The report says most technology exists today from the LPG industry, and the main challenge is scaling investment in ports and vessels now.