Economic analysis for the transport and storage of captured carbon dioxide in South Korea

Abstract

The continuous rise of CO2 emissions is a major cause of global climate change. Carbon capture and storage (CCS) is widely seen as a practical technology for reducing CO2 emissions. CCS mainly consists of capturing CO2 from large emitting sources and its transportation to a sequestration site where it can be stored safely for a long period of time. The average CO2 emission growth rate of Korea is 1.0% which is the second highest among the Organization for Economic Co‐operation and Development (OECD) countries. It becomes even more challenging when CO2 is transported to an offshore storage since there is little experience with subsea pipelines for CO2 transportation. In this study, a plausible transport and storage model scheme has been developed and then employed to study different offshore CO2 transportation cases for South Korea as: CO2 transport in liquid phase (Temperature= −20°C, Pressure= 6.50 MPa); CO2 transport in liquid phase (Temperature= 5°C, Pressure= 9.30 MPa); CO2 transport in supercritical phase (Temperature= 40°C, Pressure= 15.00 MPa). CO2 storage capacity in sedimentary basins of Korea is evaluated between 19 and 27.2 Gt (giga‐ton) of CO2. Finally, this paper explores the costs associated with transport and geologic sequestration of CO2. Transport cost varies from 10.9 to 15.5 US$/tCO2 while the storage cost ranges from 20.8 to 21.3 US$/tCO2 depending on the specific scenario and depth at which CO2 is stored. Sensitivity analysis showed a decrease in storage cost of 62.4% and 93.6% in 2030 and 2050 respectively for projected CO2 volumes in Korea. © 2013 American Institute of Chemical Engineers Environ Prog, 33: 978–992, 2014

Induced seismicity: the potential hazard from shale gas development and CO2 geologic storage

“…Two CCS pilot projects are now ongoing (see Fig. 2), and are led by the Korean Electric Power Corporation, considering offshore CO 2 storage in the Ulleung Basin in the East Sea and the Kunsan Basin in the West Sea (Global CCS Institute, 2014;Kang et al, 2014;Zahid et al, 2014). In January 2015, a pilot injection of CO 2 on offshore Pohang was initiated (The Yeongnamilbo, 2015).…”

Techno-economic assessment of CO2liquefaction for ship transportation

“…First, a steady CO 2 flow can be provided to the storage site, which is important for a safe transmission and uninterrupted safe operation of the storage site. Secondly, in the case of regular or unforeseen maintenance at the storage site, an intermediate tank will provide a buffer between CO 2 capture and storage process . This kind of buffer is especially important if the non‐operational time of injection at the storage site is short, usually less than 24 h. In this study, the tank capacity selected to hold liquid CO 2 is equivalent to 24 h of liquefied CO 2 product.…”

“…Many researchers have studied CO 2 pipeline transport schemes for various regions. Koukouzas and Typou made an initial estimation of CO 2 pipeline transportation cost in Greece, Zahid et al . studied offshore CO 2 pipeline transport in South Korea, and Zhang et al .…”

Thermoeconomic analysis and optimization of post‐combustion CO2 recovery unit utilizing absorption refrigeration system for a natural‐gas‐fired power plant

“…Increasing CO 2 emission into the atmosphere is one of the main reasons for global warming [1] with adverse environmental effects such as sea level rise, floods, droughts, and so forth. Reduction of fossil fuels consumption by energy efficiency, carbon capture, and storage, conversion of CO 2 to different products, application of renewable energies, and reforestation are effective mitigation options.…”