The present invention is based on the realization that the carbon dioxide component of industrial gas streams also containing steam can be processed so to utilize either as latent and/or sensible heat the heat available from the steam component to assist in separating carbon dioxide from the remainder of the gas stream. For example, flue gases produced by power stations burning brown coal, black coal or natural gas inherently contain a useful amount of energy that can be harnessed according to the present invention. According to particular preferred forms of the invention, nitrogen and sulphur constituent such as SOx and NOx, H2S and other nitrogen containing compounds may also be removed from the gas stream through direct contact with the absorbing medium and used to produce by-products such as fertilizer material.