Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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Economic Feasibility Study for CO2 Ocean Sequestration

CO2 해양격리시스템의 기술.경제적 가능성평가

  • 박세헌 (한국해양연구원 해양과학기술정책연구센터) ;
  • 오위영 (한국해양연구원 해양과학기술정책연구센터) ;
  • 권문상 (한국해양연구원 해양과학기술정책연구센터)
  • Published : 2005.12.31
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Abstract

The $CO_2$ storage in geologic and oceanic reservoirs is considered to be one of the carbon management strategies for responding to global climate change. Ocean carbon sequestration is purposeful storage acceleration into the ocean of large amounts of carbon that would accumulate in the atmosphere and naturally enter the ocean over a longer timespan. Some technologies for $CO_2$ ocean sequestrations have been developed as a nation project. However, $CO_2$ ocean sequestrations are attractive because they have the advantage of vast capacity sequestration far away from industrial areas, and offer easier monitoring whereas less economic advantage has been indicated as one of the key barriers compared with $CO_2$ geosphere sequestration, which is produced as a byproduct. In this paper, a conceptual design for $CO_2$ ocean sequestration is introduced, and the preliminary examination is described. As a result, the $CO_2$ price, US$ 24/t shows far away from the economics. The causes come from the expensive $CO_2$ recovery cost and the low $CO_2$ price. The expensive $CO_2$ recovery cost is because too much electricity and water are consumed. In order to look for an economic balance point for $CO_2$ ocean sequestration, NPV=0, it is increases the $CO_2$ price. Finally 60.4$ per ton is found to be the balance price.

Keywords

References

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