Economic Assessment of the CarbFix CCS Method
Iceland’s School of Energy Internship Program
SELMA-PENNA UTONIH AND VHELMA VIVIANA LEÓN R.
ICELAND SCHOOL OF ENERGY - ISE | MSc SUSTAINABLE ENERGY
Economic Assessment of the CarbFix CCS Method | Selma-Penna Utonih and Vhelma Viviana León R.
“All the carbon in the atmosphere, living
creatures, and dissolved in the oceans is
derived from rocks and will eventually end up in
rocks, the largest carbon reservoir on earth”
(Gislason et al., 2014).
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Economic Assessment of the CarbFix CCS Method | Selma-Penna Utonih and Vhelma Viviana León R.
About CarbFix
• The CarbFix sequestration project has been ongoing for several years. Its
primary goal is to imitate the natural storage process of CO2 already observed
in basaltic rocks in Icelandic geothermal fields.
• The project’s implications in the fight against global warming may be
considerable, since basaltic bedrock susceptible of CO2 injections are widely
found on the planet.
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Deeper system
(>800 m):
• ~100 tons injected
in total in pilot
phase (65% CO2)
• ~10,000 tons
Shallower system (400- injected in
800 m): industrial scale
• ~235 tons injected in injections so far
total in pilot phase
(94% CO2) www.hr.is
Economic Assessment of the CarbFix CCS Method | Selma-Penna Utonih and Vhelma Viviana León R.
www.hr.is
Economic Assessment of the CarbFix CCS Method | Selma-Penna Utonih and Vhelma Viviana León R.
Project Objectives
WHAT? HOW?
• Economic assessment of all • Data collection and analysis
the ongoing gas capture • Literature Review
and injection process at • Comparison to other Capture
Hellisheidi Power Plant by Carbon and Storage (CCS)
putting a price tag on the projects in accordance with
capture, transport, storage IPCC reports and CCS
and monitoring stages. literature.
RESULTS
• Through our own cost analysis
model, estimate both the cost of
current capture method (CO2 and
H2S captured together in one
stream) and potential second stage
capture method (CO2 separated
from H2S).
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Economic Assessment of the CarbFix CCS Method | Selma-Penna Utonih and Vhelma Viviana León R.
Preliminary Results
Figure modified from M. Nijhuis and R. Kendrick, National Geographic, April
2013.
TOTAL COST PER TON CO2
ISK USD EUR
6,240 48.55 43.76
These figures are the total costs per ton CO2 of all the stages of the
project (assuming modification to power plant are done).
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Preliminary Results cont..
% of Total Cost per ton of CO2
4%
17%
Modification to Powerplant
4% Capture
5% Transport
Injection
Monitoring
70%
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Cost of CarbFix compared to conventional CCS
• The estimated cost of storing and transporting a ton of
CO2 at the shallower CarbFix pilot injection site was
$17 and the current project is approx. $48.55.
– Current cost of most large scale CCS projects per ton of CO2
stored and transported is approx. $70-100.
– Cost depends on the amount of CO2 being injected.
– Cost much lower where wastewater is already being injected
– Captured per year: 5000 tons/yr, Emitted 60.000 tons/yr. Large
Scale CCS projects in the world approximately 400,000 tons
/year captured.
Cost shown for each step is from Global CCS
Institute, Economic Assessment of Carbon
Capture and Storage Technologies: 2011
Update and E. Ragnheidardottir. Int. J.
Greenhouse Gas Control 5, 1065 (2011).
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What’s Next?
• Estimate total final costs of CO2 captured (assuming
no modifications to the power plant is done), estimate
financial costs and updating final costs of current
capture method (CO2 and H2S captured together).
• Estimate the cost of potential second stage capture
method (CO2 is separated from H2S).
• Compare final evaluated cost figures to those
published in IPCC reports and CCS literature.
• Additional literature review on carbon capture
projects, EU carbon trading systems etc.
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CCS Development in the Arctic: CarbFix | Vhelma Viviana León R.
Thank You!
[email protected]
[email protected]
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