Underground carbon disposal has to increase 172-fold to hit the global greenhouse gas (GHG) cleanup target set by the International Energy Agency (IEA), according to an industry review by consulting firm Sproule Associates.


The role for carbon capture, utilization and storage (CCUS) as outlined by IEA in August, spells “tremendous growth and revenue generation,” said Sproule, the 70-year-old dean of Canadian petroleum engineering and geology houses.

The IEA agenda for “energy transition” to net-zero emissions directs CCUS to achieve annual permanent carbon burials of 6.9 billion tons, or one-fifth of the agency’s vision for eliminating fossil fuel exhaust blamed for global climate change as of 2070.

Sproule said global CCUS currently stands at 40 million tons by 33...