The global carbon capture and storage (CCS) industry has experienced rapid expansion, with 534 projects now in development as of February 2025. Currently, 50 CCS facilities are operational, while 44 are under construction. The total CO₂ capture capacity across all projects has reached 416 million tonnes per annum (Mtpa), with a compound annual growth rate of 32% since 2017. Offshore CCS projects are gaining traction, with notable initiatives such as Norway’s Northern Lights, Sleipner and Snohvit projects which have lead efforts in cross-border offshore CO₂ transport and storage.

The first large-scale CO₂ storage began at the Sleipner gas field in 1996, followed by the Snohvit project in 2008. At Sleipner, CO₂ is separated from natural gas and injected into the Utsira Sand aquifer. The average injection rate is one million tonnes per year. The Snohvit project, located in the southwestern Barents Sea, involves CO₂ removal from natural gas and subsequent offshore injection at a rate of about 0.85 million tonnes annually (Figure below), with a total of 23 million tonnes planned for storage over 30 years. The Northern Lights Project, a joint venture by the Norwegian Government, Equinor, Shell, and Total, forms part of the Longship project, which includes a complete CCS value chain with onshore capture facilities feeding into Northern Lights for transport and storage (Figure below). The injection rate for Northern Lights is 1.5 million tonnes annually.

Another large-scale example is in the Santos Basin, located 300km offshore Brazil. It hosts the world's largest EOR (Enhanced Oil Recovery) CO₂ injection project, initiated by Petrobras and its partners in 2010 to prevent CO₂ venting. As of 2022, 40.8 million tonnes of CO₂ have been reinjected, with a goal to reach 80 million tonnes by 2025.

In the United States, federal policies and funding initiatives are driving significant CCS deployment. Beginning in 2021, the Department of Energy (DOE) began awarding or negotiating awards for over $2.2 billion in funding from the Infrastructure Investment and Jobs Act to advance carbon management projects with commercial support. The country has seen a surge in Class VI CO₂ injection well permit applications, with approximately 230 currently under review across 18 states and one tribal nation. Additionally, numerous major offshore CCS projects are being developed across the United States. The U.S. is investing heavily in Direct Air Capture (DAC), which relies on carbon storage, with two DAC hubs under development, each with a capacity of 1 million tonnes per annum (Mtpa), supported by $3.5 billion in federal funding.

Asia-Pacific countries, including Australia, Japan, South Korea, Malaysia, and Indonesia, are advancing CCS value chains, positioning themselves as regional CO₂ storage hubs. A large-scale demonstration project is the Tomakomai, located 3-4km offshore the island of Hokkaido, Japan. From 2016 to 2018, it captured CO₂ from a hydrogen production unit and injected 100,000 tonnes per year into two saline aquifers. The site is now in the post-injection monitoring phase ("CCS" that captures and buries CO2 is about to be realized after demonstration tests (Part 1)|Energy|Agency for Natural Resources and Energy). The Middle East is also investing heavily in CCS, with Saudi Arabia targeting 14 Mtpa of CO₂ storage by 2035, while the United Arab Emirates (UAE) and Qatar have set ambitious decarbonization goals supported by large-scale CCS projects.

Overall, CCS is emerging as a key technology in global decarbonization strategies, with increasing public and private sector collaboration, substantial investments, and expanding regulatory frameworks paving the way for future growth.