Carbon capture and sequestration has been seen as a key technology in the battle against climate change. The International Energy Agency has estimated that in order to meet carbon emission goals, 100 CCS projects would need to be up and running by 2020 and over 3000 projects would be needed by 2050. As a result, countries have been seeking funding and the best available method to implement these commercial scale projects. At one time, Europe seemed like it had the ability to meet the demand first but according to a new report from Bloomberg, it appears that North America is now likely to get the first projects up and running.

As projects in Europe wait for funding from the EU, Air Products & Chemicals Inc. and SaksPower appear to be the leading candidates to get commercial-scale CCS projects up and running in the United States and Canada. Air Products & Chemicals is leading a project at the Port Arthur, Texas, refinery owned by Valero Energy Corp. The carbon dioxide will be captured and then sold to Denbury Resources Inc. Denbury will then sequester the carbon dioxide as part of an enhanced oil recovery(EOR) operation. This project is scheduled to be up and running by the first half of 2013. SaskPower is currently working on the final details of The Boundary Dam project at The Boundary Dam Power Station in Estevan, Saskatchewan, Canada. They hope to have the project up and running by early 2014.