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Views: 3 Author: Site Editor Publish Time: 2024-07-05 Origin: Site
The CO2 supply market is at a critical point, as new regulations and growing demand for climate action are creating a squeeze on existing supply. As a result, the upcoming years are poised to be a watershed moment for the industry, with new sources of CO2 becoming increasingly necessary to meet demand.
At the heart of this complex market is the tension between peak demand and shutdowns at plants that primarily produce other products. This has always been a challenge for the industry, but now it is compounded by the emergence of a parallel market for CO2 sequestration to address global heating and the climate emergency.
In 2024, it is expected that this emerging market will divert a significant amount of CO2 that would have gone to the merchant market, further exacerbating the supply squeeze. This creates a need for new sources of CO2 to ensure a stable market going forward.
One potential solution that will surely be discussed at the upcoming North American CO2 Summit, taking place in Nashville this September, is the capture of CO2 at ethanol plants. This is already happening at many plants, but there is room for expansion in this area. However, there is also a growing trend towards targeting the sequestration opportunity and CO2 pipelines, rather than the merchant market, which will also be explored at the event.
Another potential source of CO2 to meet demand is biogas. While the potential is there, it requires quick investment in order to ramp up and make a significant contribution. This will be a key topic of discussion at the summit, as the industry looks towards diversifying its sources of CO2.
The event will feature a range of speakers from various backgrounds, including Abydee Butler Moore, President and CEO of Butler Gas Products Co, Maura Garvey of Intelligas, and Ashley Pennington of the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency. The Compressed Gas Association’s Rich Gottwald will also be in attendance, providing valuable insights into the current state of the CO2 market.
The summit will feature seven separate sessions of conference presentations and panel debates, as well as an exhibition element. This will provide attendees with the opportunity to network and collaborate with industry experts and stakeholders, gaining valuable insights into the future of the CO2 supply market.
In conclusion, as the demand for CO2 continues to grow, the industry is facing a critical moment. The upcoming North American CO2 Summit will provide a platform for exploring potential solutions, as well as discussing the complex dynamics at play in the market. It is clear that new sources of CO2 will be necessary to ensure a stable market in the future, and this event will be a key opportunity to learn, network, and collaborate towards this goal.