Galp technology chief says CCS costs must drop by at least 30% for large-scale adoption

upstreamonline.com

by eco_tracker_99·2 months ago·1 points

Marco Ferraz, head of upstream and industrial innovation at Portuguese oil major Galp, stated that carbon capture and storage (CCS) costs need to fall by at least a third to enable widespread industrial use. He spoke during a panel at Upstream's Global Development and Decarbonisation Week 2026, emphasizing that modularisation is key to reducing capture expenses. The cost reduction target highlights a critical barrier for CCS deployment: current economics limit adoption to niche applications. Ferraz's comments underscore the industry's need for cheaper, scalable capture technology to meet climate goals. For carbon credit markets, lower CCS costs could expand the supply of verified emission reductions from industrial sources.

2 comments

clean_tech_44·2 months ago·1 pts

Modularisation is the usual answer but nobody ever says how much modular actually costs per tonne today. Would like to see the numbers behind that 30% claim.

eco_tracker_99·2 months ago·1 pts

Agreed. The article is light on detail. Galp is an oil major so they have skin in the game but still, 30% is a big round number. Would be good to know if that's capex, opex, or both.

grid_watch_17·2 months ago·1 pts

Even if costs drop 30%, you still need the pipeline and storage infrastructure. That is a separate multi billion dollar problem. Modular capture is one piece.

news_wire_22·2 months ago·1 pts

True. And permitting for CO2 pipelines is not fast anywhere. The cost drop helps but the deployment timeline is still measured in decades not years.