Carbon Capture – Good Business
There is a strong business case scenario for carbon capture, even without carbon taxes and cap and trade.
If you took carbon dioxide from power plants and sold it to oil producers for enhanced oil recovery, you could double the existing, economically recoverable oil reserves in the region.
It takes around $150 to capture and sequester a ton of carbon dioxide. The oil industry will pay almost $110 a ton for carbon dioxide at the well head. That means carbon would cost $40 a ton to sequester. However, the capital and operational costs of sequestration should go down with the development of better technology.
Exploiting captured carbon dioxide in this manner, however, would lead to more carbon being injected into atmosphere.Secondly this could lead to less interest in biofuels as an alternate energy source.
The International Energy Agency has estimated that carbon capture will have to account for 20 percent of the total carbon dioxide reductions by 2050 just to keep the level of carbon in the atmosphere at 450 parts per million level, considered by many the maximum level humanity can endure.
By 2030, the world, ideally, will have 850 CCS plants storing 2,000 gigatons a year. By 2050, the number of CCS plants should grow to 3,400 projects said Nick Otter, who heads up the Global Carbon Capture and Storage Institute, a think tank supported by $200 million from the Australian government.
Debates continue over which technology might work best - post-combustion or pre- combustion. Unfortunately, carbon capture technology largely exists in theory right now. Only 18 major projects might be complete by 2015. And even getting those 18 constructed remains a challenge.
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If you took carbon dioxide from power plants and sold it to oil producers for enhanced oil recovery, you could double the existing, economically recoverable oil reserves in the region.
It takes around $150 to capture and sequester a ton of carbon dioxide. The oil industry will pay almost $110 a ton for carbon dioxide at the well head. That means carbon would cost $40 a ton to sequester. However, the capital and operational costs of sequestration should go down with the development of better technology.
Exploiting captured carbon dioxide in this manner, however, would lead to more carbon being injected into atmosphere.Secondly this could lead to less interest in biofuels as an alternate energy source.
The International Energy Agency has estimated that carbon capture will have to account for 20 percent of the total carbon dioxide reductions by 2050 just to keep the level of carbon in the atmosphere at 450 parts per million level, considered by many the maximum level humanity can endure.
By 2030, the world, ideally, will have 850 CCS plants storing 2,000 gigatons a year. By 2050, the number of CCS plants should grow to 3,400 projects said Nick Otter, who heads up the Global Carbon Capture and Storage Institute, a think tank supported by $200 million from the Australian government.
Debates continue over which technology might work best - post-combustion or pre- combustion. Unfortunately, carbon capture technology largely exists in theory right now. Only 18 major projects might be complete by 2015. And even getting those 18 constructed remains a challenge.
More
Labels: carbon capture - cost of sequestration-Global Carbon Capture and Storage Institute
posted by powerplantccs at
3:20 PM
4 Comments:
Powerplant CCS is a really interesting topic...
Algae-based Carbon Capture technology can be fed with the exhaust gases from plants to significantly increase the algal productivity and clean up the air.
Although capturing CO2 by making useful products can only result in mitigation of a minute percentage of total CO2 present in the atmosphere, it is a viable way of CO2 mitigation since it can be quite profitable.
Although estimated storage costs are small relative to capture, the capacity, storage integrity, technological feasibility, and potential environmental impacts of these storage options are uncertain.
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