Energy Transition

Energy Transition | Carbon Capture, Storage and Utilisation

The Economics of CCS Projects

Course Code: N668
Instructors:  Andy Kirchin
Course Outline:  Download
Format and Duration:
1 days
2 sessions

Next Event

Location: Virtual
Date:  16th - 17th Oct 2024
Start Time: 14:00 BST
Event Code: N668a24V
Fee From: GBP £1,165 (exc. Tax)


CCS is currently undergoing the process of ‘Scaling Up’ with a batch of full-scale projects proving viability and deliverability globally. The “Scale Up’ phase has largely been driven by Government policy and fiscal support but for “Roll Out’ to occur, where outside finance / capital is persuaded to invest in CCS, the Transport & Storage industry will likely need the establishment of a “market price” for the movement and permanent storage of CO₂ in order to justify investment. At its simplest, the fully built-up cost structure for capturing and delivering molecules of CO₂ to a T&S company and paying their fees needs to be more attractive to an emitter than the cost of emitting the CO₂. This course will look at the factors likely to affect the emergence of a global “market or commodity price” for the transport and storage of CO₂.


Event Code: N668a24V
Sessions: 2 sessions
Instructors: Andy Kirchin
Dates: 16th - 17th Oct 2024
Start Time: 14:00 BST
Location: Virtual
Fee From
GBP £1,165 (exc. Tax)
Good Availability
Please login to book.

Duration and Training Method

This is a classroom or virtual classroom course comprising a mixture of lectures, case studies, and discussion sessions.

This course includes e-learning elements that provide background content on Carbon Capture and Storage that serves to provide an introduction to the subject matter:

EC003 Fundamentals of CCS

Course Overview

Participants will learn to:

  1. Develop an understanding of how various Governments have approached the incentivisation of building transport and storage complexes – “the Bridging Mechanisms”.
  2. Learn what key fiscal and regulatory tools will be used to create a “global” market price for the transport, injection and long-term storage of CO₂.
  3. Develop an understanding of what is realistic in terms of rate of return for CO₂ storage.
  4. Understand what technical constraints will impact the economics of storage.
  5. Understand the difference between geological storage vs. biological storage and the economics of “permanence”.
  6. Understand the importance of International Standards and Guidelines for the governance of CCS.
This course will cover the following topics:
  • Establishing the price to emit “Carbon Price” – how big is the “Stick”?
  • Means of monetising investment in CO₂ storage today – how big is the “Carrot”?
  • The importance of a government-backed Emissions Trading Scheme (‘ETS’).
  • “Carbon offsetting” – ‘Eco-terrorism’ or ‘A force for good’?
  • When will Voluntary Carbon Markets work?
  • The use of Carbon Border Adjustment Mechanisms (‘CBAM’) to globalise the Carbon Price.
  • Carbon Contracts for Difference (‘CCfD’), how will they help?
  • Competition for storage – how a free-market will likely establish itself.
  • What Standards and Guidelines will be needed to ‘regulate’ economic return?

The self-paced e-learning element of this course is

  • Fundamentals of CCS

This course is for anyone involved in the development of CCS projects from either a non-technical or technical perspective.

Andy Kirchin

Andy has over 35 years' experience in energy consulting services. He is a geophysicist by background but has specialised in leading multidisciplinary projects for much of his career. Having returned to the UK after more than a decade in Houston where he led the Technical, Training and Advisory Division, Andy has joined the RPS Energy Transition Leadership Team focusing on the establishment of a subsurface consulting practice incorporating solutions in Energy Transition (CCS, Geothermal, Hydrogen and Storage) as we support our clients to thrive in a low-carbon economy.

Affiliations and Accreditation
BSc University of Liverpool - Geophysics with Geology
European Association of Geoscientists and Engineers (EAGE)
Society of Petroluem Engineers (SPE)
Fellow of the Geological Society of London (FGS, C.Geol)

Courses Taught
N668: The Economics of CCS Projects

CEU: 1.2 Continuing Education Units
PDH: 12 Professional Development Hours
Certificate: Certificate Issued Upon Completion
RPS is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. We comply with the ANSI/IACET Standard, which is recognised internationally as a standard of excellence in instructional practices.
We issue a Certificate of Attendance which verifies the number of training hours attended. Our courses are generally accepted by most professional licensing boards/associations towards continuing education credits. Please check with your licensing board to determine if the courses and certificate of attendance meet their specific criteria.