Strategic Analysis of the Global Status of Carbon Capture & Storage
In May 2009, a consortium led by WorleyParsons and comprising Schlumberger, Electric Power Research Institute and Baker & McKenzie was engaged to undertake the Strategic Analysis of the Global Status of Carbon Capture and Storage.
The consortium was tasked to undertake a comprehensive survey of the status of CCS and to develop a series of reports analysing CCS projects, the economics of CCS, policies supporting CCS development and existing research and development networks. A fifth report - the Synthesis Report - was also developed and this summarises the findings of the first four reports, and provides a comprehensive assessment of the gaps and barriers to the deployment of large-scale CCS projects, including strategies and recommendations to address these issues.
Comments
At present, CCS is very expensive and its performance can be uncertain at the scale of commercial power plants, amongst others. Likewise, several RE technologies faced similar challenges early in their commercial deployment and that :-
Mindful of the above, the power industry structure also has implications for CCS deployment. To the extent that the power industry moves fully private the need for active and clear policy to encourage CCS, despite being expensive, will probably grow. However, not until deregulation, CCS faces near-term difficulties in finding viable Business Models (BM) :-
a) since industry reforms are generally long-term goals, and
b) current BM are largely undemonstrated as majority of current real CCS projects are small, mostly pursued on "one-off" factor with public subsidies, and on "ideal" circumstances such as power plants that sits adjacent to large demands for CO2 for EOR operations.
c) on technical side, according to Stanford geophysicist Mark Zoback and Lawrence Berkeley Nat Lab seismologist Ernest Majer, combating global warming via CCS could trigger small earthquake that might breach the storage system thus allowing CO2 back into atmosphere. Is there a better way to store CO2 or to convert it to transportation fuels - is CCS industry heading such direction (as this will improve the viability of CCS)
Lots
of interesting points were raised in the post by WK Chan - from the economics of CCS operations to the safe storage of CO2. These points can probably be
better answered by some of the groups within the Community area of the
website. I have therefore started the discussions in the Projects (click here) and Geological Carbon Sequestration groups (click here).
They are very good comments, and I hope that they can be discussed in more detail!