The climate crisis is urgent, and finding ways to reduce carbon emissions is critical for our planet's future. TotalEnergies is making a significant US$167 million investment to study offshore carbon capture and storage (CCS) in Brazil. This major effort will involve mapping deep-sea geological formations along Brazil's coast to find safe spots to store carbon dioxide (CO₂) for centuries. If successful, these underwater reservoirs could become key sites for large-scale CO₂ storage, helping tackle climate change and solidifying Brazil's role in global climate action.

This investment shows strong confidence in Brazil's potential as a major hub for carbon storage. TotalEnergies has vast global experience, including projects like Northern Lights in Norway and Aramis in the Netherlands, aiming to store over 10 million tons of CO₂ per year globally by 2030. This international expertise will greatly support Brazil's CCS development.

Offshore storage is well-suited for Brazil, given its extensive deep offshore basins with ideal geology for injecting CO₂ beneath thick rock seals. Using existing offshore oil and gas infrastructure allows for quicker, more cost-effective deployment, avoiding land use conflicts. Successful CCS can also generate carbon credits, providing financial incentives for these vital climate projects.

Brazil's CCS market, though small, is growing. Valued at roughly US$99.6 million in 2024, it's projected to reach about US$155.1 million by 2030. This expansion could allow Brazil to store hundreds of millions of tons of CO₂ annually, fostering a new industry and creating jobs. Petrobras, the state-owned oil and gas company, already runs one of the world’s largest offshore carbon storage programs. Between 2008 and 2024, Petrobras injected about 67.9 million tons of CO₂, with 14.2 million tons reinjected in 2024 alone. An S&P Global study even shows some of their oil fields achieving lower emissions per barrel than the global offshore average, proving large-scale offshore CCS is operational.

TotalEnergies' investment provides crucial scientific data, boosts market confidence, and aids in building a comprehensive carbon-management industry. This initiative is a vital step towards significantly reducing greenhouse gas emissions from challenging industrial sectors. However, challenges remain: high costs, the need for clear regulations, securing sufficient demand from emitters, and building public trust. Importantly, CCS complements efforts for cleaner energy; it doesn't replace them.

The next few years are pivotal. As TotalEnergies' studies identify prime storage locations and government policies mature, Brazil can expand its infrastructure and industrial adoption. Backed by its proven operational experience, Brazil is well-positioned to become a leading force in Latin American CCS, creating a new economic sector and making a substantial impact on national and global climate goals.