The concentration of carbon dioxide in the earth's atmosphere reached the highest level ever recorded in history two years ago and it continues to increase due to human activities. This leads to climate change which we can clearly see day by day. One of the solutions is building a carbon capture and storage system (CCS) which Petronas is also trying to do in the Southeast Asian region.
But according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) from Australia, the majority of CCS projects that are already in operation are found not to reach the target. The data is from 13 CCS projects that capture 55% of the world's CO2. ExxonMobil's CCS project in Wyoming for example captured 64% of the CO2 from the original target. Meanwhile, CO2 capture by Chevron's CCS project in Australia is 50% less than the original target since operating five years ago.
Only the Sleipner and Snøhvit CCS project in Norway met the target due to that country's stricter laws. The report does not say the CCS project is a failure but simply confirms that it is not the best solution to the rising CO2 issue. Reducing it by using electric vehicles and controlling emissions from industry is still a better step.