Historical annual spending on carbon capture, utilisation and storage by sector, and annual spending compared to investment needs in the different scenarios, 2010-2035

reaching FID in the United Kingdom. In addition, two large CO2 storage projects in Norway and Australia began operations, and Europe's second storage hub is expected to start operations later this year in the Netherlands. increase 35-fold to reach average annual spending in 2035 in the NzE Scenario. Deployment is als0 widening geographically. In 2020, close to 60% of all projects share has fallen to around 45%, reflecting the sector's growing international reach. Denmark, Italy, the Netherlands, Norway and the United Kingdom. Indonesia has reached its first FiD for a large-scale project, while both the Middle East and China now have as much or more CO2 capture capacity under construction as Europe. In India, which currently only has a handful of small-scale pilot projects operating, years as part of its 2026-27 federal budget. While these levels are consistent with the CPS and STEPS, far greater investment would be needed for CCUS deployment in the NZE Scenario. In the latter scenario, average annual spending on CcUS projects around the world would significantly higher levels of private capital.