Authors / CoAuthors
Allinson, W.G. | Nguyen, D.N. | Bradshaw, J.
Abstract
The economics of the storage of CO2 in underground reservoirs in Australia have been analysed as part of the Australian Petroleum Cooperative Research Centre's GEODISC program. The analyses are based on cost estimates generated by a CO2 storage technical / economic model developed at the beginning of the GEODISC project. They also rely on data concerning the characteristics of geological reservoirs in Australia. The uncertainties involved in estimating the costs of such projects are discussed and the economics of storing CO2 for a range of CO2 sources and potential storage sites across Australia are presented. The key elements of the CO2 storage process and the methods involved in estimating the costs of CO2 storage are described and the CO2 storage costs for a hypothetical but representative storage project in Australia are derived. The effects of uncertainties inherent in estimating the costs of storing CO2 are shown. The analyses show that the costs are particularly sensitive to parameters such as the CO2 flow rate, the distance between the source and the storage site, the physical properties of the reservoir and the market prices of equipment and services. Therefore, variations in any one of these inputs can lead to significant variation in the costs of CO2 storage. Allowing for reasonable variations in all the inputs together in a Monte Carlo simulation of any particular site, then a large range of total CO2 storage costs is possible. The effect of uncertainty for the hypothetical representative storage site is illustrated. The impact of storing other gases together with CO2 is analysed. The other gases include methane, hydrogen sulphide, nitrogen, nitrous oxides and oxides of sulphur, all of which potentially could be captured together with CO2. The effect on storage costs when varying quantities of other gases are injected with the CO2 is shown. Based on the CO2 storage estimates and the published costs capturing CO2 from industrial processes, the econ
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nonGeographicDataset
eCat Id
41336
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Keywords
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- External PublicationScientific Journal Paper
- ( Theme )
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- carbon dioxide
- ( Theme )
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- geological sequestration
- ( Theme )
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- economic modelling
- Australian and New Zealand Standard Research Classification (ANZSRC)
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- Earth Sciences
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- Published_Internal
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2002-01-01T00:00:00
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