OGCI member companies and Climate Investments are active in eight of the 25 CCUS projects announced that plan to use 45Q tax credits
When the US passed legislation in 2018 expanding and extending the 45Q tax credits for carbon capture, utilization and storage projects, it unleashed a new wave of interest from the private sector in using CCUS technology to decarbonize oil and gas. OGCI member, Occidental was the first to announce a major project in partnership with White Energy. Since then 25 projects have been publicly announced and many more are in planning. Eight of the projects involve OGCI member companies and/or Climate Investments.
Read more about OGCI Climate Investments CCUS activities.