Carbon dioxide (CO2) capture and storage is becoming a key component of the global strategy to reduce emissions and combat climate change. While direct emissions reductions are essential, developing technologies that capture and store CO2 in areas where emissions reduction is difficult, such as heavy industry, is becoming indispensable for achieving the climate neutrality goals set by the European Union and the Paris Agreement.
Over the past few months, the carbon capture and storage (CCS) landscape has seen significant progress, particularly in Europe, where several flagship projects are setting the pace for the rest of the world. Experts agree that, although the energy transition is progressing well, it will be necessary to strengthen complementary solutions like these to ensure the genuine decarbonization of strategic sectors.
Norway, an international benchmark in carbon capture and storage
Norway has taken the lead in Europe with the inauguration of the Longship project, a large-scale initiative that integrates the capture, transport, and subsequent storage of CO2 in reservoirs beneath the seabed. The Brevik plant, operated by Heidelberg Materials, a pioneer in the cement industry, stands out, capturing approximately 400.000 tons of CO2 annually , roughly half of the emissions from this type of industry. The collected CO2 is transported in liquefied form by ship to the Øygarden terminal and from there injected into a saline aquifer about 2.600 meters deep beneath the North Sea.
The project has received significant public investment from Norway , which has allocated over 22.000 billion Norwegian kroner to support the initiative in its first ten years. Longship is notable for creating the first complete industrial value chain for CO2 in Europe and for its potential to be replicated internationally.
The transport and storage infrastructure is being managed by Northern Lights, a consortium formed by Equinor, TotalEnergies, and Shell, which has already signed agreements with companies from other countries such as Sweden, Denmark, and the Netherlands. This consortium recently received approval from the Norwegian government to expand its capacity to at least 5 million tons per year, providing services to European industries and signing new contracts with clients such as Stockholm Exergi. Capacity is expected to increase multiplied in the future to meet international demand.
International Outlook: Investment and Ambition on the Rise
The global landscape for carbon capture and storage (CCS) is changing rapidly. Recent reports estimate that cumulative investment in CCS could reach $80 billion in just five years, quadrupling global storage capacity before the end of the decade. Most of this growth is concentrated in North America and Europe, although progressive expansion into Asia and other regions is expected.
The industrial sector, especially cement, steel, and logistics, will be key players in driving CCS beyond 2030, as they represent a substantial portion of global emissions that are difficult to abate. By mid-century, these industries are expected to be responsible for more than 40% of the CO2 captured each year globally.
Cost reduction is another key aspect. Average costs for these technologies are projected to fall by around 40% by 2050, as they scale up, processes improve, and political and regulatory support is secured. The sector, however, demands decisive collaboration between government and industry stakeholders to close the gap that still exists between ambition and the actual deployment of infrastructure.
Spain: between potential and challenge to lead the CAC
Spain faces the challenge of not falling behind its European partners. Despite having 85 potential CO2 storage sites spread across the country and an estimated storage capacity of 11 gigatons, most of these locations remain unexplored and the available information is limited.
According to industry experts and organizations such as the Spanish Geological Survey (IGME) and the Spanish Technological Platform for CO2 (PTECO2), there is an urgent need to define a national strategy , establish public-private partnerships, and mobilize investment in research, exploration, and the construction of new logistics infrastructure. Development in Spain remains in its initial stages compared to other countries, due in part to a lack of incentives and regulatory clarity.
The fragmentation of the value chain, the absence of a national roadmap, and uncertainty about the future cost of emissions are some of the obstacles highlighted by major energy companies and industry bodies. Added to this is the difficulty in obtaining financing and the limited subsoil exploration compared to countries like the United Kingdom or Norway.
The urgency to act: opportunities and next steps
CO2 storage represents an opportunity to create new industries, attract investment, and strengthen Spain's industrial competitiveness. According to various stakeholders in the sector, everything hinges on accelerating the deployment of transportation and storage networks and eliminating the uncertainty that holds back companies and investors.
At the European level, Brussels is pushing to anticipate the goals of the Net Zero Industry Act, which already sets out the obligation to store 50 million tons annually by 2050. If Spain doesn't move quickly, its industries will find it increasingly difficult to compete and adapt to climate neutrality.
Therefore, while other countries are calling for greater ambition and commitment, Spanish voices agree that the country must leverage its strengths, work on a critical infrastructure strategy, and ensure its attractiveness to international funds seeking industrial decarbonization opportunities.
As CCS scales internationally and pioneering examples like Norway consolidate, Spain faces the decision of whether to advance or pass up the opportunity to become one of the European leaders in carbon capture and storage. With infrastructure development, public incentives, and a joint strategic vision, the country could transform this challenge into a competitive advantage and an essential tool for its energy transition.