The Oil and Gas Climate Initiative (OGCI) has published CCS in the Asia-Pacific Region, a new report prepared by the Global CCS Institute (GCCSI) examining what is needed to unlock carbon capture and storage (CCS) deployment across selected economies in the region.
The report assesses policy, legal and regulatory frameworks across selected economies, alongside CO₂ storage opportunities and the economic implications of different development pathways. It finds that good progress is being made in many jurisdictions but further work is required to enable coordinated approaches across regions to unlock further development.
While some economies are advancing CCS-specific regulation, others have yet to establish the legal and permitting structures that make investment viable. The report also finds that delays in storage development will potentially carry a cost over longer time horizons, constraining available pathways to net zero and potentially increasing the price of reaching it.
The report is intended as a practical reference for policymakers, project developers, investors and others working to advance responsible CCS deployment in the region.
This report builds on OGCI’s earlier assessment of CCS hub potential in northern Egypt, also prepared by the Global CCS Institute, as part of OGCI’s program of geography-specific CCS deployment analysis.
About OGCI
The Oil and Gas Climate Initiative is a CEO-led initiative comprised of 12 of the world’s leading oil and gas companies, producing around a quarter of global oil and gas on an operated basis.
For the past decade, OGCI member companies have worked together to reduce their own emissions, while also driving action across the wider oil and gas industry to reduce emissions to achieve net zero operations in the timeframe of the Paris Agreement.
To help scale emissions reductions across a broader network of companies, OGCI works closely with the Oil & Gas Decarbonization Charter (OGDC), an initiative launched at COP28, which comprises 56 signatories representing approximately 40% of global oil production.
As OGDC secretariat, OGCI and its member companies are sharing a decade’s worth of their own expertise reducing emissions with OGDC’s signatories through technical consultations, mentorship programs and longer-term collaborative partnerships. Priority topics include methane emissions abatement, flaring reduction and energy efficiency.
Since 2017, OGCI members have reduced their own total operated methane emissions by 63%, routine flaring by 72%, and carbon intensity by 24%. OGCI members have also invested a cumulative total of $125 billion in low-carbon technologies and solutions, including acquisitions and R&D, since 2017.
In 2016, OGCI launched Climate Investments to manage a $1 billion fund to develop and accelerate the commercial deployment of low emissions technologies.
OGCI’s members are Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies.
Read more in OGCI’s latest annual Progress Report and see our current Performance Data here.
