IEEFA: BHP & the Vexing Pursuit of Carbon Capture in Steelmaking

CCSU
CCSUImage Source: SteelGuru

Synopsis:

BHP's reliance on outdated data to support carbon capture, utilization, and storage for blast furnaces in steelmaking sparks debate amidst a shifting landscape favoring greener technology like hydrogen-based steel production.

Article:

BHP, a major iron ore supplier, champions CCUS for decarbonizing blast furnaces, despite being a key coal shipper. Despite this stance, the industry moves toward direct reduced iron (DRI) technology, propelled by hydrogen.

However, BHP's persistence with CCUS contradicts updated IEA data, reducing its projected role in steel production to 37% by 2050, while hydrogen-based steelmaking surges to 44%.

The dearth of operational CCUS facilities for blast furnaces underscores the technology's lagging progress. Reports from industry watchers reveal a stark contrast: a surge in DRI plant announcements compared to limited CCUS initiatives.

Despite these limitations, BHP spotlights CCUS collaborations, albeit with low capture rates. Notably, its focus on steel decarbonization through technology alliances aims to incorporate Pilbara iron ore into low-carbon steel production.

While pressure mounts for Scope 3 emissions reduction, companies like BHP grapple with setting definitive targets. BHP's pursuit of CCUS faces skepticism, with rising calls to pivot toward technology enabling coal-free steelmaking.

Conclusion:

Amidst global pressure for emissions reduction, BHP's persistence with CCUS for blast furnace-based steelmaking faces scrutiny. As the industry leans toward low-carbon technologies like hydrogen-based steel production, BHP's emphasis on CCUS, backed by outdated data, sparks skepticism. The company's alliances hint at promising technological advancements, suggesting a potential shift away from reliance on CCUS for steel decarbonization.

Related Stories

No stories found.
logo
SteelGuru Business News
www.steelguru.com