Imagine towering ships gliding across the ocean, not with oil or cargo, but with a silent threat: captured carbon dioxide. This radical idea from shipbuilders and shipowners proposes burying greenhouse gas emissions deep beneath the seabed, offering a potential weapon in the fight against climate change.
The plan involves supercooling CO2 into a liquid, making it 600 times denser and easier to transport on specialized vessels. These seafaring CO2 carriers, each holding up to 25,400 metric tons of captured emissions, would then embark on a critical mission: pumping their liquid cargo into depleted offshore oil wells, essentially entombing it for good.
This proposal targets major emitters like cement, chemical, and energy companies. Facing carbon taxes and limited inland storage options, they're desperate for solutions. Burying CO2 offshore offers a potentially vast, accessible storage space.
Shipyard giant Hyundai and Greek shipowner Capital Product Partners have already signed a multi-million dollar deal for four CO2 carriers, set to sail in 2025. But is this a win-win for industry and the environment?
While promising, the plan navigates murky waters. The long-term impact of storing vast amounts of CO2 underground remains unknown. Leakage from aging wells is a major concern, potentially releasing the trapped gas back into the atmosphere.
Regulatory hurdles also loom. Storing CO2 under the seabed is largely untested and lacks clear legal frameworks. Governments and environmental groups will need to navigate complex issues of safety and long-term liability.
Despite the risks, the potential market is vast. The global carbon capture and storage market is projected to reach $5.2 billion by 2026, driven by stricter regulations and growing corporate responsibility. Major players like Heidelberg Materials, BASF, and Ørsted are already planning carbon capture projects, with offshore storage a potential option.
Burying CO2 emissions at sea is a bold, untested gamble. While it offers a potential solution for industries struggling to meet emission targets, the environmental and regulatory hurdles are significant. Only time will tell if this deep-sea dive into carbon capture will truly save the planet, or unleash unforeseen consequences.
