Case Report

Econ. Environ. Geol. 2018; 51(4): 381-392

Published online August 31, 2018

https://doi.org/10.9719/EEG.2018.51.4.381

© THE KOREAN SOCIETY OF ECONOMIC AND ENVIRONMENTAL GEOLOGY

Suggestion for Technology Development and Commercialization Strategy of CO2 Capture and Storage in Korea

Yi Kyun Kwon1 and Young Jae Shinn2*

1Department of Geoenvironmental Sciences, Kongju National University, Gongju 32588, Korea
2Korea Institute of Geoscience and Mineral Resources, Daejeon 34132, Korea

Correspondence to : shinn21@kigam.re.kr

Received: August 11, 2018; Accepted: August 16, 2018

This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided original work is properly cited.

Abstract

This study examines strategies and implementation plans for commercializing CO2 capture and storage, which is an effective method to achieve the national goal of reducing greenhouse gas. In order to secure cost-efficient business model of CO2 capture and storage, we propose four key strategies, including 1) urgent need to select a large-scale storage site and to estimate realistic storage capacity, 2) minimization of source-to-sink distance, 3) cost-effectiveness through technology innovation, and 4) policy implementation to secure public interest and to encourage private sector participation. Based on these strategies, the implementation plans must be designed for enabling CO2 capture and storage to be commercialized until 2030. It is desirable to make those plans in which large-scale demonstration and subsequent commercial projects share a single storage site. In addition, the plans must be able to deliver step-wised targets and assessment processes to decide if the project will move to the next stage or not. The main target of stage 1 (2019 ~ 2021) is that the large-scale storage site will be selected and post-combustion capture technology will be upgraded and commercialized. The site selection, which is prerequisite to forward to the next stage, will be made through exploratory drilling and investigation for candidate sites. The commercial-scale applicability of the capture technology must be ensured at this stage. Stage 2 (2022 ~ 2025) aims design and construction of facility and infrastructure for successful large-scale demonstration (million tons of CO2 per year), i.e., large-scale CO2 capture, transportation, and storage. Based on the achievement of the demonstration project and the maturity of carbon market at the end of stage 2, it is necessary to decide whether to enter commercialization of CO2 capture and storage. If the commercialization project is decided, it will be possible to capture and storage 4 million tons of CO2 per year by the private sector in stage 3 (2026 ~ 2030). The existing facility, infrastructure, and capture plant will be upgraded and supplemented, which allows the commercialization project to be cost-effective.

Keywords CO2 capture and storage, large-scale storage site, strategy for commercialization, greenhouse gas

한국 이산화탄소 포집 및 저장 기술개발 및 상용화 추진 전략 제안

권이균1 ·신영재2*

1공주대학교 지질환경과학과, 2한국지질자원연구원 전략기술연구본부

요 약

Article

Case Report

Econ. Environ. Geol. 2018; 51(4): 381-392

Published online August 31, 2018 https://doi.org/10.9719/EEG.2018.51.4.381

Copyright © THE KOREAN SOCIETY OF ECONOMIC AND ENVIRONMENTAL GEOLOGY.

Suggestion for Technology Development and Commercialization Strategy of CO2 Capture and Storage in Korea

Yi Kyun Kwon1 and Young Jae Shinn2*

1Department of Geoenvironmental Sciences, Kongju National University, Gongju 32588, Korea
2Korea Institute of Geoscience and Mineral Resources, Daejeon 34132, Korea

Correspondence to:shinn21@kigam.re.kr

Received: August 11, 2018; Accepted: August 16, 2018

This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided original work is properly cited.

Abstract

This study examines strategies and implementation plans for commercializing CO2 capture and storage, which is an effective method to achieve the national goal of reducing greenhouse gas. In order to secure cost-efficient business model of CO2 capture and storage, we propose four key strategies, including 1) urgent need to select a large-scale storage site and to estimate realistic storage capacity, 2) minimization of source-to-sink distance, 3) cost-effectiveness through technology innovation, and 4) policy implementation to secure public interest and to encourage private sector participation. Based on these strategies, the implementation plans must be designed for enabling CO2 capture and storage to be commercialized until 2030. It is desirable to make those plans in which large-scale demonstration and subsequent commercial projects share a single storage site. In addition, the plans must be able to deliver step-wised targets and assessment processes to decide if the project will move to the next stage or not. The main target of stage 1 (2019 ~ 2021) is that the large-scale storage site will be selected and post-combustion capture technology will be upgraded and commercialized. The site selection, which is prerequisite to forward to the next stage, will be made through exploratory drilling and investigation for candidate sites. The commercial-scale applicability of the capture technology must be ensured at this stage. Stage 2 (2022 ~ 2025) aims design and construction of facility and infrastructure for successful large-scale demonstration (million tons of CO2 per year), i.e., large-scale CO2 capture, transportation, and storage. Based on the achievement of the demonstration project and the maturity of carbon market at the end of stage 2, it is necessary to decide whether to enter commercialization of CO2 capture and storage. If the commercialization project is decided, it will be possible to capture and storage 4 million tons of CO2 per year by the private sector in stage 3 (2026 ~ 2030). The existing facility, infrastructure, and capture plant will be upgraded and supplemented, which allows the commercialization project to be cost-effective.

Keywords CO2 capture and storage, large-scale storage site, strategy for commercialization, greenhouse gas

한국 이산화탄소 포집 및 저장 기술개발 및 상용화 추진 전략 제안

권이균1 ·신영재2*

1공주대학교 지질환경과학과, 2한국지질자원연구원 전략기술연구본부

Received: August 11, 2018; Accepted: August 16, 2018

요 약

    KSEEG
    Jun 30, 2024 Vol.57 No.3, pp. 281~352

    Stats or Metrics

    Share this article on

    • kakao talk
    • line

    Related articles in KSEEG

    Economic and Environmental Geology

    pISSN 1225-7281
    eISSN 2288-7962
    qr-code Download