Estimation of CO 2 Transport Costs in South Korea Using a Techno-Economic Model

Kwangu Kang, Youngkyun Seo, Daejun Chang, Seong-Gil Kang and Cheol Huh
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Kwangu Kang: Offshore CCS Research Unit, Korea Research Institute of Ships and Ocean Engineering, 32 1312 Beon-gil, Yuseong-daero, Yuseong-gu, Daejeon 305-343, Korea
Youngkyun Seo: Division of Ocean Systems Engineering, Korea Advanced Institute of Science and Technology, 291 Daehak-ro, Yuseong-gu, Daejeon 305-701, Korea
Daejun Chang: Division of Ocean Systems Engineering, Korea Advanced Institute of Science and Technology, 291 Daehak-ro, Yuseong-gu, Daejeon 305-701, Korea
Seong-Gil Kang: Offshore CCS Research Unit, Korea Research Institute of Ships and Ocean Engineering, 32 1312 Beon-gil, Yuseong-daero, Yuseong-gu, Daejeon 305-343, Korea
Cheol Huh: Ocean Science & Technology School, Korea Maritime and Ocean University, 727 Taejong-ro, Youngdo-gu, Busan 606-791, Korea

Energies, 2015, vol. 8, issue 3, 1-21

Abstract: In this study, a techno–economic model was used to calculate the costs of CO 2 transport and specify the major equipment required for transport in order to demonstrate and implement CO 2 sequestration in the offshore sediments of South Korea. First, three different carbon capture and storage demonstration scenarios were set up involving the use of three CO 2 capture plants and one offshore storage site. Each transport scenario considered both the pipeline transport and ship transport options. The temperature and pressure conditions of CO 2 in each transport stage were determined from engineering and economic viewpoints, and the corresponding specifications and equipment costs were calculated. The transport costs for a 1 MtCO 2 /year transport rate were estimated to be US$33/tCO 2 and US$28/tCO 2 for a pipeline transport of ~530 km and ship transport of ~724 km, respectively. Through the economies of scale effect, the pipeline and ship transport costs for a transport rate of 3 MtCO 2 /year were reduced to approximately US$21/tCO 2 and US$23/tCO 2 , respectively. A CO 2 hub terminal did not significantly reduce the cost because of the short distance from the hub to the storage site and the small number of captured sources.

Keywords: carbon capture and storage; CO 2 transport; cost; scale effect (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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