Economic Assessment Study Of Large-Scale Carbon Capture And Storage Demonstration Project Based On Full-chain System Optimization

Climate change is a major challenge facing human beings in regard to their survival and development in the 21 st century.It has become a global consensus to proactively address climate change and promote green and low-carbon development.Countries are all exploring pathway for the control of CO₂ emission.Carbon capture and storage?CCS?is a technology that can achieve large emission reduction in CO₂ emission.Currently,full-chain and large-scale CCS projects are on the stage from demonstration to commercialization because of the huge upfront invea tment,long operating period and complex techniques.The concentrations of CCS study were on a single project or some individual subsystems,such as the deep saline storage,CO₂-EWR,CO₂-EOR,carbon capture,transport or storage.The complexities and interactions among CCS system and the competitiveness in many sub-technologies would not be reflected in these studies.In addition,the comprisons of different CCS technical routes and analyses of incremental cost of different CCS technical routes would not be made in previous studies.Furthermore,the technology economy of CCS would be subjected to internal and external factors,such as the low carbon policy,down-stream products of CCS and carbon price.Therefore,the objective of this study is to develop a techno-economic assessment model of CCS and an inexact CO₂-EWR optimization model based on full-chain system optimization to evaluate the economy of CCS project or CO₂-EWR project in China.The models can reflect the internal interaction,dynamic and the uncertainty within the CCS system.The results of modeling application suggested that the net amount of CO₂ sequ estration and efficiency of CO₂ storage for CCS?saline aquifer storage?project are higher than those for CO₂-EWR project during the horizon in northwestern China;the economy for CO₂-EWR project is more feasible than those for CCS?saline aquifer storage?project;the profit of brine prodocts under comprehensive development and utilization could offset a part of the huge investment in construction stage and operating costs in long-term operation stage of CCS project;a stable and perfect carbon emission trading market,a suitable oil prace and a given stimulation policy of government are very important for moving CCS from demonstration stage to large-scale deployment stage.The least cost of CCS project or technology roadmap of CCS can be obtained through the economic assessment study of large-scale CCS demonstration project based on full-chain system optimization.The results can provide tradeoff analysis between the amount and cost of CO₂ emission reduction for decision makers and government.The results can also help the government and investors understand the economy of Chinese CCS projects and show the scheme of the CCS solutions in China for global countries.