Economic analysis of a combined energy–methanol production plant

Laura A. Pellegrini, Giorgio Soave, Simone Gamba and Stefano Langè

Applied Energy, 2011, vol. 88, issue 12, 4897 pages

Abstract: The large-scale combined production of methanol and electricity from natural gas is simulated and evaluated from an economic point of view. Both capital and operating costs are considered. The proposed solution is based on steam methane reforming and consists of an once-through methanol synthesis followed by a power plant in which the unreacted gases are burned. Electricity is produced in a combined-cycle plant. It is supposed to add the energy production unit to an already existing methanol plant without decreasing the methanol production. The economic analysis shows that, given the low natural gas price in the Saudi Arabia context, the combined production ensures an increased annual revenue that allows a reasonable payout time for the added energy plant.

Keywords: Cost analysis; Electricity; Methanol; Natural gas; Once-through synthesis; Polygeneration energy system (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (19)

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DOI: 10.1016/j.apenergy.2011.06.028

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