A quantitative comparison of the cost of employing EOR-coupled CCS supplemented with secondary DSF storage for two large CO_2 point sources

摘要

This paper explores the impact of the temporally dynamic demand for CO_2 for CCS-coupled EOR by evaluating the variable demand for new (i.e., non-recycled) anthropogenic CO_2 within EOR projects and the extent to which EOR-coupled CCS is compatible with the need for baseload CO_2 storage options for large anthropogenic point sources. A profile of CO_2 demand over an assumed EOR project lifetime is applied across two different storage scenarios to illustrate the differences in cost associated with different EOR-coupled CCS configurations. The first scenario pairs a single EOR field with a DSF used to store any CO_2 that is not used to increase oil recovery in the EOR field; the second scenario is designed to minimize storage in the DSF and maximize lower-cost EOR-based storage by bringing multiple EOR projects online over time as the previous project's CO_2 demand declines, making the source's CO_2 available for a subsequent project. Each scenario is evaluated for two facilities, emitting 3 and 6 MtCO2/y. Annual and lifetime average CO_2 transport and storage costs are presented, and the impact of added capture and compression costs on overall project economics is examined. The research reported here suggests that the cost of implementing a CCS-coupled EOR project will be more than is typically assumed; in many cases a positive price on CO2 emitted to the atmosphere will be required to motivate deployment of these CO_2-based EOR projects, except in the most idealized cases. The reasons for this conclusion are twofold. First, the costs of capitalizing, operating and monitoring a secondary DSF to provide backup storage for CO_2 not demanded by the EOR operation can cut sharply into EOR revenues. Second, except in cases where a single firm figures both the CO_2 source emissions and the associated EOR recovery on the same balance sheet, the oil production company is not likely to share a significant portion of revenues from the EOR field with the CO_2 source. Thus, while EOR-coupled CCS may offer attractive early opportunities, these opportunities are likely only available to a small fraction of the CO_2 source fleet in the U.S