CCUS Gains Ground but Faces Headwinds: BlackRock Enters; New Licences & Global Pilots Signal Growth; Political & Cost Risks Bite - Quarter 3 2025
Case for tracking:
In Q3 2025, carbon capture and storage (CCUS) took another step forward, but the picture was mixed. Japan approved its first offshore capture wells, and Norway began injecting CO₂, supported by new safety work from DNV and progress on Yara’s North Sea hub. On the finance side, BlackRock bought into Eni’s CCUS unit, showing growing interest from big investors.
In the U.S., the EPA issued draft permits for Texas projects, suggesting momentum, but program cuts exposed the political and financial risks still facing the sector. Local pushback also grew. California imposed a pipeline moratorium and storage wells came under scrutiny after leaks. Meanwhile, industry adoption widened, with steelmakers in Oman and LNG projects pairing operations with CCUS. The quarter showed CCUS moving from promises to real projects and investment but also facing stronger community concerns and tough economics.