Literature Review for the Cost Estimation of CCS Projects in Korea

doi:10.12972/ksmer.2013.50.4.569

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2013 Vol.50, Issue 4 Preview Page Next Page

Technical Report

Literature Review for the Cost Estimation of CCS Projects in Korea 국내 CCS 사업의 비용 추정을 위한 선행연구 조사: 김지환 · 김현제
Ji-Whan Kim, Hyun Jae Kim

31 August 2013. pp. 569-580

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Abstract

As one of the options to alleviate greenhouse gases, CCS(carbon dioxide capture and storage) project still does not proceed to the commercialization stage in Korea. However, considering the progress and the technology development in CCS project of foreign cases, in the near future, CCS of Korea will enter the stage of commercialization. The purpose of this study is to review the previous studies on the cost analyses of preceding CCS projects for preparing the methodology for cost estimation of CCS in Korea. This paper suggests the primary factors reflecting the distinctive features of CCS project and shows the estimation results from the previous literature on cost analysis in CCS projects. This is expected to be one of fundamental information on getting the cost evaluation model of CCS projects in Korea.

Keywords

Carbon capture and storage

CCS project

Cost estimation

Cost factors

온실가스의 문제를 완화하는 기술의 한 가지로 제시되고 있는 이산화탄소 포집 및 저장(Carbon Capture and Storage, CCS) 사업은 아직까지 우리나라에서는 실용화단계에 이르지 않았다. 그러나 해외의 사례 또는 기술개발의 정도를 고려하면 가까운 장래에 실용화단계에 들어설 것이다. 이에 본 연구에서는 우리나라에 CCS 사업이 도입되는 것을 고려하여 해외 CCS 사업의 비용을 추정한 선행연구들을 조사하고 정리하였다. 미국, 캐나다 등에서 이루어진 CCS 연구들을 개괄하고, 각 사업에서 제시하고 있는 경제성평가의 연구방법론, 데이터 등을 살폈다. 그리고 해외에서 CCS 사업의 비용을 추정하기 위하여 사용한 방법론을 토대로 CCS 사업의 특수성을 반영한 비용항목들을 제안하여 우리나라가 CCS 사업의 비용추정을 시도함에 기초자료를 제공하고자 한다.

키워드

이산화탄소 포집 및 저장

CCS 사업

비용추정

비용요인

References

Allinson, G., Neal, P., Ho, M., Wiley, D. and McKee, G., 2006, CCS Economics Methodology and Assumptions, CO2CRC.
Bukhteeva, O., Neal, P. and Allinson, G., 2009, “Optimisation economics for CO₂ capture and storage in Central Queensland (Australia),” Energy Procedia, Vol. 1 pp. 3969-3976.
CSA Group, 2008, Assessment of the All Island Potential for Geological Storage of Carbon Dioxide in Ireland, CSA Group Ltd.
EPA, 2008, Geologic CO₂ Sequentration Technology and Cost Analysis, EPA.
GCCSI, 2011, The Global Status of CCS 2011, pp. 8-33, GCCSI.
Huh, D.G. and Park, Y.C., 2009, “Status of Otway CO₂ Storage Project in Australia,” J. of the Geological Society of Korea. Vol. 45, No. 5, pp. 517-525.
Huh, D.G., Park, Y.C., Yoo, D.G. and Hwang, S.H., 2010, “CO₂ Geological Storage Potential in Korea,” Energy Procedia, pp. 4881-4888.
IEA, 2007, Energy Distribution and CO₂ Capture Cost Estimation Model, IEA Greenhouse Gas R&D Programme.
IEA, 2008, Energy Technology Perspectives 2008: Scenarios & Strategies to 2050, OECD/IEA.
Kang, M., Min, D., Park, K., Kim, W. and Huh, C., 2012 “A Review of CO₂ Storage Monitoring Based on Geophysical Methods,” J. of the Korean Society for Geosystem Engineering, Vol. 49, No. 3, pp.426-451.
KEPCO, 2012, Press release : KEPCO, 10MW post-combustion CO₂ dry capture plant construction, 24 August 2012.
Kim, J., 2012, “The Korean Case Study of CCS Pipeline Transport Cost with CO2CRC/UNSW Model,” J. of the Korean Society for Geosystem Engineering, Vol. 49, No. 4, pp. 537-544.
McCoy, S. and Rubin, E., 2005, “Models of CO₂ Transport and Storage Costs and Their Importance in CCS Cost Estimates,” Fourth Annual Conference on Carbon Capture and Sequestration, U.S. Department of Energy/National Energy Technology Laboratory, May 2-5.
McCoy, S. and Rubin, E., 2008, “An engineering economic model of pipeline transport of CO₂ with application to carbon capture and storage,” International Journal of Greenhouse Gas Control, Vol. 2, No. 2, pp. 219-229.
McKinsey & Company, 2008, Carbon Capture & Storage: Assessing the Economics, McKinsey & Company.
Nam, S. and Park, C., 2012, “Research Review of Carbon Dioxide Storage in Underground Geological Formations,” J. of the Korean Society for Geosystem Engineering, Vol. 49, No. 2, pp.195-209.
Park, Y.C., Huh, D.G. and Kim, J., 2011, “CCS Cost Analysis Modeling,” 1st Korea CCS Conference, Korea CCS Conference Organization Committee, Ramada Plaza Jeju Hotel, Jeju, 14 April 2011.
Park, Y.C., Huh, D.G., Yoo, D.G., Hwang, S.H., Lee, H.Y. and Roh, E., 2009, “A Review of Business Model for CO₂ Geological Storage Project in Korea,” J. of the Geological Society of Korea. Vol. 45, No. 5, pp. 579-587.
Svensson, R., Odenberger, M., Johnsson, F. and Stromberg, L., 2004, “Transporation Systems for CO₂-application to carbon capture and storage,” Energy Conversion and Management, Vol. 45, Issue 15-16, September 2004, pp. 2343-2353.
The Presidential Committee on Green Growth and the Prime Minister’s Office of the Republic of Korea, 2009a, Press release : Korean government launches the national consensus-building process for decideing 2020 midterm GHG mitigation target by announcing 3 mitigation scenarios, 4 August 2009.
The Presidential Committee on Green Growth and the Prime Minister’s Office of the Republic of Korea, 2009b, Press release : Market-Driven Green Growth, 12 July 2009.
Wandoan Power Consotium, 2011, Wandoan Power Project Pre-feasibility Study Knowledge Sharing Report, pp.19-59.

Information

Publisher :The Korean Society of Mineral and Energy Resources Engineers
Publisher(Ko) :한국자원공학회
Journal Title :Journal of the Korean Society of Mineral and Energy Resources Engineers
Journal Title(Ko) :한국자원공학회지
Volume : 50
No :4
Pages :569-580
DOI :https://doi.org/10.12972/ksmer.2013.50.4.569

[1] Allinson, G., Neal, P., Ho, M., Wiley, D. and McKee, G., 2006, CCS Economics Methodology and Assumptions, CO2CRC.

[2] Bukhteeva, O., Neal, P. and Allinson, G., 2009, “Optimisation economics for CO₂ capture and storage in Central Queensland (Australia),” Energy Procedia, Vol. 1 pp. 3969-3976.

[3] CSA Group, 2008, Assessment of the All Island Potential for Geological Storage of Carbon Dioxide in Ireland, CSA Group Ltd.

[4] EPA, 2008, Geologic CO₂ Sequentration Technology and Cost Analysis, EPA.

[5] GCCSI, 2011, The Global Status of CCS 2011, pp. 8-33, GCCSI.

[6] Huh, D.G. and Park, Y.C., 2009, “Status of Otway CO₂ Storage Project in Australia,” J. of the Geological Society of Korea. Vol. 45, No. 5, pp. 517-525.

[7] Huh, D.G., Park, Y.C., Yoo, D.G. and Hwang, S.H., 2010, “CO₂ Geological Storage Potential in Korea,” Energy Procedia, pp. 4881-4888.

[8] IEA, 2007, Energy Distribution and CO₂ Capture Cost Estimation Model, IEA Greenhouse Gas R&D Programme.

[9] IEA, 2008, Energy Technology Perspectives 2008: Scenarios & Strategies to 2050, OECD/IEA.

[10] Kang, M., Min, D., Park, K., Kim, W. and Huh, C., 2012 “A Review of CO₂ Storage Monitoring Based on Geophysical Methods,” J. of the Korean Society for Geosystem Engineering, Vol. 49, No. 3, pp.426-451.

[11] KEPCO, 2012, Press release : KEPCO, 10MW post-combustion CO₂ dry capture plant construction, 24 August 2012.

[12] Kim, J., 2012, “The Korean Case Study of CCS Pipeline Transport Cost with CO2CRC/UNSW Model,” J. of the Korean Society for Geosystem Engineering, Vol. 49, No. 4, pp. 537-544.

[13] McCoy, S. and Rubin, E., 2005, “Models of CO₂ Transport and Storage Costs and Their Importance in CCS Cost Estimates,” Fourth Annual Conference on Carbon Capture and Sequestration, U.S. Department of Energy/National Energy Technology Laboratory, May 2-5.

[14] McCoy, S. and Rubin, E., 2008, “An engineering economic model of pipeline transport of CO₂ with application to carbon capture and storage,” International Journal of Greenhouse Gas Control, Vol. 2, No. 2, pp. 219-229.

[15] McKinsey & Company, 2008, Carbon Capture & Storage: Assessing the Economics, McKinsey & Company.

[16] Nam, S. and Park, C., 2012, “Research Review of Carbon Dioxide Storage in Underground Geological Formations,” J. of the Korean Society for Geosystem Engineering, Vol. 49, No. 2, pp.195-209.

[17] Park, Y.C., Huh, D.G. and Kim, J., 2011, “CCS Cost Analysis Modeling,” 1st Korea CCS Conference, Korea CCS Conference Organization Committee, Ramada Plaza Jeju Hotel, Jeju, 14 April 2011.

[18] Park, Y.C., Huh, D.G., Yoo, D.G., Hwang, S.H., Lee, H.Y. and Roh, E., 2009, “A Review of Business Model for CO₂ Geological Storage Project in Korea,” J. of the Geological Society of Korea. Vol. 45, No. 5, pp. 579-587.

[19] Svensson, R., Odenberger, M., Johnsson, F. and Stromberg, L., 2004, “Transporation Systems for CO₂-application to carbon capture and storage,” Energy Conversion and Management, Vol. 45, Issue 15-16, September 2004, pp. 2343-2353.

[20] The Presidential Committee on Green Growth and the Prime Minister’s Office of the Republic of Korea, 2009a, Press release : Korean government launches the national consensus-building process for decideing 2020 midterm GHG mitigation target by announcing 3 mitigation scenarios, 4 August 2009.

[21] The Presidential Committee on Green Growth and the Prime Minister’s Office of the Republic of Korea, 2009b, Press release : Market-Driven Green Growth, 12 July 2009.

[22] Wandoan Power Consotium, 2011, Wandoan Power Project Pre-feasibility Study Knowledge Sharing Report, pp.19-59.

Journal of the Korean Society of Mineral and Energy Resources Engineers ISSN:2288-0291(Print) 2288-2790(Online) 한국자원공학회지

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