Economic evaluation of the geological storage of CO2 considering the scale of economy |
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| Institution: | 1. Cooperative Research Centre for Greenhouse Gas Technologies (CO2CRC), Australia;2. School of Petroleum Engineering, University of New South Wales, Sydney Australia;3. Australian School of Petroleum, University of Adelaide, Adelaide, Australia;4. CSIRO Earth Science and Resource Engineering, Melbourne, Australia;1. Department of Chemical Engineering, University of Wyoming, Laramie, USA;2. Department of Petroleum Engineering, University of Wyoming, Laramie, USA;3. Center for Economic Geology Research, University of Wyoming, Laramie, USA;1. School of Mathematics, University of Leeds, Leeds, LS2 9JT, United Kingdom;2. School of Process, Environmental and Materials Engineering, University of Leeds, Leeds, LS2 9JT, United Kingdom;3. School of Earth and Environment, University of Leeds, Leeds, LS2 9JT, United Kingdom;1. Shandong Industrial Engineering Laboratory of Biogas Production & Utilization, Key Laboratory of Biofuels, Qingdao Institute of Bioenergy and Bioprocess, Qingdao 266101, China;2. University of Chinese Academy of Sciences, Beijing 100049, China;3. College of Chemical Engineering, Qingdao University of Science & Technology, Qingdao 266042, China |
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| Abstract: | CO2 capture and storage (CCS) technology is expected to play an important role in the efforts directed toward long-term CO2 emission reduction. This paper analyzes the cost of the geological storage of CO2 in Japan in order to consider future research, development and deployment (RD&D); these would be based on the information of the obtained cost structure. According to the analysis results, the costs, particularly those of the transportation by pipeline and of CO2 injection, strongly depend on the scale of the facilities. Therefore, the distance of the transportation of CO2 should be minimized in the case of small-scale storage, particularly in Japan. In addition, the potential injection rate per well is another key factor for the injection cost. Based on the analyzed cost, the injection cost of the geological storage of CO2 in Japan for individual storage sites is estimated, and the cost–potential curve is obtained. A mixed-integer programming model has been developed to take into account these characteristics of the CCS technology and its adverse effects arising from the scale of economy with regard to the transportation and injection cost for the geological storage of CO2. The model is designed to evaluate CCS and other CO2 mitigation technologies in the energy systems of Japan. With all these adverse effects due to the scale of economy, the geological storage of CO2 will be one of the important options for CO2 emission reduction in Japan. |
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