Global CCS growth highlights major opportunity for Australia

Carbon capture and storage (CCS) is entering a new phase of global deployment, with more than 100 commercial projects now operating and a further 56 million tonnes a year of capture capacity under construction, creating a major opportunity for Australia to use its geology, expertise and regional relationships to support emissions reduction at home and across the Indo-Pacific.

The Global CCS Institute’s 2026 Global Status of CCS Report shows operating projects rose from 77 to 113 in the past year, with a further 56 million tonnes per annum of capture capacity under construction. More than 400 million tonnes of CO₂ have now been permanently stored since 1996.

“CCS is proven. The question is no longer whether it works, but whether countries have the policy settings to attract the investment,” LETA Acting Chief Executive Officer Damian Dwyer said.

“There are encouraging signs at home, from the abatement Moomba is delivering to Western Australia’s new storage laws. But without a national carbon management technology strategy, Australia will struggle to turn a growing list of projects into investment decisions,” Mr Dwyer said.

“There is some government funding available for CCS projects, but it is nowhere near enough. India alone has committed around US$2.2 billion over five years. Without a national strategy backed by serious investment, Australia will struggle to turn proposals into projects,” Mr Dwyer said.

The report also notes that Japan, South Korea and Singapore plan to export CO₂ for storage in the region, although no binding cross-border agreements are yet in place.

“Our major trading partners are looking for places to store their CO₂. Australia has the geology, expertise and relationships to be that partner, but we need a coordinated national plan that aligns policy, funding and infrastructure,” Mr Dwyer said.

ENDS

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