The system-wide economics of a carbon dioxide capture, utilization, and storage network: Texas Gulf Coast with pure CO2-EOR flood

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The system-wide economics of a carbon dioxide capture, utilization, and storage network: Texas Gulf Coast with pure CO2-EOR flood
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This letter compares several bounding cases for understanding the economic viability of capturing large quantities of anthropogenic CO2 from coal-fired power generators within the Electric Reliability Council of Texas electric grid and using it for pure CO2 enhanced oil recovery (EOR) in the onshore coastal region of Texas along the Gulf of Mexico. All captured CO2 in excess of that needed for EOR is sequestered in saline formations at the same geographic locations as the oil reservoirs but at a different depth. We analyze the extraction of oil from the same set of ten reservoirs within 20- and five-year time frames to describe how the scale of the carbon dioxide capture, utilization, and storage (CCUS) network changes to meet the rate of CO2 demand for oil recovery. Our analysis shows that there is a negative system-wide net present value (NPV) for all modeled scenarios. The system comes close to breakeven economics when capturing CO2 from three coal-fired power plants to produce oil via CO2-EOR over 20 years and assuming no CO2 emissions penalty. The NPV drops when we consider a larger network to produce oil more quickly (21 coal-fired generators with CO2 capture to produce 80% of the oil within five years). Upon applying a CO2 emissions penalty of 602009/tCO2 to fossil fuel emissions to ensure that coal-fired power plants with CO2 capture remain in baseload operation, the system economics drop significantly. We show near profitability for the cash flow of the EOR operations only; however, this situation requires relatively cheap electricity prices during operation.
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this abstract describes a paper entitled The system-wide economics of a carbon dioxide capture utilization and storage network in the context of the Texas Gulf Coast 1st what is carbon
capture utilization and storage for C-C U.S. the CC refers to capturing C O 2 emissions from the combustion process in our case this is capturing C O 2 coal-fired power plants in Texas you were 1st utilization in our case this is utilization of the captured C O 2 for enhanced oil recovery or you are refers to storage any captures you 2 that is not used for enhanced oil recovery is assumed stored in sailing reservoirs the
analysis is framed by using 4 different scenarios defined by 2 parameters the rate of oil field development and an emissions penalty a price on C O 2 emissions I describe
1st the 2 different rates of all of your development
this graph shows the amount of C O 2 delivery needed per year each oil field for the slope scenarios the top line in the chart shows the total amounts you to use it for delivery to all 10 or Littlefield's scenarios defined by the near constant delivery of C O 2 between 10 and 12 million tons of C O 2 per year to create this constant and it's due to the oil production is faced over the course of the 20 year analysis so scenario is meant to approximate an ideal situation for a coal-fired power plant operator that invest in C O 2 capture technology and wants to assure that there's is demand for all the captured O to each year the fast
scenarios are meant to be an extreme case but oils produced as fast as possible instead of in a sequence of phases the vast majority of this you 2 needs to occur in the 1st 5 years of operation with over 50 million tons of C O 2 needed in years 1 and 2 after your 5 less than 15 million tons per year are needed for delivery to your fields the 2nd parameter
that characterizes the scenarios is whether or not there's an economic penalty on C O 2 emissions from coal or natural gas used for electricity generation as well as the oil is eventually burned as transportation fuels the nearest to enforce an emissions penalty on C O 2 scenarios 1 3 assume no emissions penalty we set the C O 2 emissions penalty priced at 60 dollars per ton of C O 2 to assure that coal-fired power plants are dispatched as base load and cut or taxes electric mark because we assume what we call a
pure C 2 floods for enhanced oil recovery there is a net quantity of C O 2 injected into the subsurface relative to C O 2 emissions from the set of power plants with C O 2 capture in produced oil pure C O 2 flight uses more C O 2 than most your operations that alternate periods of injecting water and C O 2 over the course of 20 years the slow scenarios storing at 66 million tons of C O 2 in the subsurface at a cost of 7 to 25 dollars per ton of fast scenarios store over 1000 million tons of C O 2 at a cost of 7 to 18 dollars per ton in all scenarios the net present
value or NPB is negative meaning that the system overall does not make enough money for electricity and oil sales to offset the cost of installing and operating this you to infrastructure electricity needs a significant for your ensuing storage operations as we calculate the interview while assuming a low medium and high electricity price for operating Ponson compression systems during your and C O 2 storage the slow scenario economics relatively close to break-even the fasten areas are significantly less economic even without a C O 2 emissions penalty because of the much larger capital investment even though we constructed forming scenarios 6 lines are shown as we calculate the net present value of the emissions penalty snares considering emissions from your oil production as included or excluded from the impose 60 dollar per ton price including penalties and will emissions lowers the net present value by 2 comma decimal 5 billion for the so serious and 5 billion for the fasteners we think the sponsor for this
research practices of worker and the Gulf Coast carbon center at the University of Texas at Austin Bureau of Economic Geology