Economic Evaluation of Eight Regional Scenarios for the Deployment of Carbon Capture, Use and Storage in Southern and Eastern Europe to 2050

16th International Conference on Greenhouse Gas Control Technologies, GHGT-16 23rd - 27th October 2022, Lyon, France

12 Pages Posted: 6 Jan 2023

See all articles by Paula Coussy

Paula Coussy

IFPEN

Paula Canteli

Spanish Geological Survey (IGME)

Cecile Dumas

IFPEN

Julio Carneiro

Universidade de Évora

Isaline Gravaud

Bureau de Recherches Géologiques et Minières (BRGM)

Xavier Guichet

IFPEN

Anders Nermoen

NORCE Energy

Roberto Martínez Orio

Spanish Geological Survey (IGME)

Patricia Fortes

NOVA University of Lisbon

Paulo Mesquita

Universidade de Évora

Pedro Pereira

Universidade de Évora

Paulo Rocha

CIMPOR

Ricardo C.T. Aguiar

University of Texas at San Antonio - Division of Hematology and Medical Oncology

Pavlos Tyrologoug

Centre for Research and Technology Hellas (CERTH)

Nikolaos Koukouzas

Centre for Research and Technology Hellas (CERTH)

Fernanda M. L. Veloso

Bureau de Recherches Géologiques et Minières (BRGM)

Alexandra Dudu

National Research and Development Institute for Marine Geology and Geoecology

Constantin Stefan Sava

National Research and Development Institute for Marine Geology and Geoecology

Domagoj Vulin

University of Zagreb; Faculty of Mining, Geology and Petroleum Engineering

Lucija Jukić

University of Zagreb

Anna Śliwińska

Central Mining Institute

Piotr Krawczyk

Central Mining Institute

Date Written: August 31, 2022

Abstract

During the three-year EU-funded STRATEGY CCUS project [1] [3] (2019-2022), Carbon Capture, Use and Storage (CCUS) scenarios formulated for eight regions in Southern and Eastern Europe were developed and economically evaluated up to 2050. These regional CCUS scenarios are based on both the performances of local industries in operation and for which CCUS is a relevant mitigation alternative, as well as the regional storage capacities known to date. The eight CCUS regional scenarios are in: 1) Paris basin and 2) Rhône Valley in France, 3) Ebro basin in Spain, 4) Lusitanian basin in Portugal, 5) Northern Croatia, 6) Upper Silesia in Poland, 7) West Macedonian area in Greece and 8) Galati area in Romania. They cover an extensive and original portfolio of possible CCUS business models.

While some scenarios assume that the captured CO2 is used for synthetic methane or chemical production, in most cases the captured CO2 is sent to CO2 storage facilities. The biogenic CO2 captured is monitored and its storage time in new uses watched. The economic evaluation considers the negative CO2 emissions resulting from the long-term storage or use of captured biogenic CO2.

This paper compares the economic Key Performance Indicators (KPIs) of these eight CCUS business cases with the carbon penalties that would have been charged to the same industries to remain in compliance with the European Union - Emissions Trading System (EU ETS). The calculated KPIs mainly reflect the costs and revenues expressed in euros per ton of CO2 avoided or removed for the whole regional scenario until 2050

Keywords: CCUS; cluster; hub; techno-economic evaluation; CO2 value chain; biogenic CO2 ; EU ETS; business model; Europe; scenario;negative emissions

JEL Classification: C51; C53; C54; C63; E37; E47; E61; F36; O14; O21

Suggested Citation

Coussy, Paula and Canteli, Paula and Dumas, Cecile and Carneiro, Julio and Gravaud, Isaline and Guichet, Xavier and Nermoen, Anders and Orio, Roberto Martínez and Fortes, Patricia and Mesquita, Paulo and Pereira, Pedro and Rocha, Paulo and Aguiar, Ricardo C.T. and Tyrologoug, Pavlos and Koukouzas, Nikolaos and M. L. Veloso, Fernanda and Dudu, Alexandra and Sava, Constantin Stefan and Vulin, Domagoj and Jukić, Lucija and Śliwińska, Anna and Krawczyk, Piotr, Economic Evaluation of Eight Regional Scenarios for the Deployment of Carbon Capture, Use and Storage in Southern and Eastern Europe to 2050 (August 31, 2022). 16th International Conference on Greenhouse Gas Control Technologies, GHGT-16 23rd - 27th October 2022, Lyon, France, Available at SSRN: https://ssrn.com/abstract=4205472 or http://dx.doi.org/10.2139/ssrn.4205472

Paula Canteli

Spanish Geological Survey (IGME) ( email )

Rios Rosas 23
Madrid
Spain

Cecile Dumas

IFPEN ( email )

Julio Carneiro

Universidade de Évora

R. Romão Ramalho 59
Évora, 7000-671
Portugal

Isaline Gravaud

Bureau de Recherches Géologiques et Minières (BRGM) ( email )

3 avenue Claude-Guillemin
BP 36009
Orléans Cedex 2, 45060
France

Anders Nermoen

NORCE Energy ( email )

114 Nygårdsgaten
Bergen, 5006
Norway

Roberto Martínez Orio

Spanish Geological Survey (IGME)

Rios Rosas 23
Madrid
Spain

Patricia Fortes

NOVA University of Lisbon ( email )

Paulo Mesquita

Universidade de Évora

R. Romão Ramalho 59
Évora, 7000-671
Portugal

Pedro Pereira

Universidade de Évora ( email )

Paulo Rocha

CIMPOR ( email )

Ricardo C.T. Aguiar

University of Texas at San Antonio - Division of Hematology and Medical Oncology ( email )

San Antonio, TX
United States

Pavlos Tyrologoug

Centre for Research and Technology Hellas (CERTH)

Nikolaos Koukouzas

Centre for Research and Technology Hellas (CERTH) ( email )

Fernanda M. L. Veloso

Bureau de Recherches Géologiques et Minières (BRGM) ( email )

3 avenue Claude-Guillemin
BP 36009
Orléans Cedex 2, 45060
France

Alexandra Dudu

National Research and Development Institute for Marine Geology and Geoecology ( email )

Str. Dimitrie Onciul, Nr. 23-25
Bucharest, RO-024053
Romania

Constantin Stefan Sava

National Research and Development Institute for Marine Geology and Geoecology ( email )

Dimitrie Onciul Str. NO :23-25
Bucharest, 024053
Romania

Domagoj Vulin

University of Zagreb ( email )

Faculty of Mining, Geology and Petroleum Engineering ( email )

Pierotiijeva 6
Zagreb, 10000
Croatia

Lucija Jukić

University of Zagreb ( email )

Anna Śliwińska

Central Mining Institute ( email )

Piotr Krawczyk

Central Mining Institute ( email )

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