The Role of Carbon Capture and Storage in the Energy Transition

In this paper, we review and analyze the salient features of the ongoing energy transition from a high to a low carbon economy. Our analysis shows that this transition will require decarbonizing the power, transport, and industry sectors, and the transition pathway will be country-specific. Carbon c...

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Published inEnergy & fuels Vol. 35; no. 9; pp. 7364 - 7386
Main Authors Lau, Hon Chung, Ramakrishna, Seeram, Zhang, Kai, Radhamani, Adiyodi Veettil
Format Journal Article
LanguageEnglish
Published American Chemical Society 06.05.2021
Subjects
carbon
carbon dioxide
carbon sequestration
economic investment
economies of scale
energy
energy policy
feedstocks
fossil fuels
heat
hydrogen
hydrogen fuel cells
industry
oils
prices
public-private partnerships
stakeholders
technology transfer
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Abstract In this paper, we review and analyze the salient features of the ongoing energy transition from a high to a low carbon economy. Our analysis shows that this transition will require decarbonizing the power, transport, and industry sectors, and the transition pathway will be country-specific. Carbon capture and storage (CCS) technologies will play a major role in this energy transition by decarbonizing existing and new fossil fuel power plants and the production of low-carbon fossil-fuel-based blue hydrogen. Blue hydrogen can be used for hydrogen fuel cell mobility in the transport sector and heat and feedstock in the industry sector. Current estimates show that there is adequate CO2 storage capacity in the world’s saline aquifers and oil and gas reservoirs to store 2 centuries of anthropogenic CO2 emission. However, the slow pace of CCS implementation is concerning and is due, in part, to too low of an oil price to make CO2-enhanced oil recovery profitable, lack of financial incentives for CO2 geological storage, low public acceptance, lack of consistent government energy policy and CCS regulations, and high capital investment. We propose several ways to accelerate CCS implementation. Among others, they include establishing regional CCS corridors to make use of economy of scale, public CCS engagement, carbon pricing, and using public–private partnership for financing, technology transfer, and linking up different stakeholders.
AbstractList In this paper, we review and analyze the salient features of the ongoing energy transition from a high to a low carbon economy. Our analysis shows that this transition will require decarbonizing the power, transport, and industry sectors, and the transition pathway will be country-specific. Carbon capture and storage (CCS) technologies will play a major role in this energy transition by decarbonizing existing and new fossil fuel power plants and the production of low-carbon fossil-fuel-based blue hydrogen. Blue hydrogen can be used for hydrogen fuel cell mobility in the transport sector and heat and feedstock in the industry sector. Current estimates show that there is adequate CO₂ storage capacity in the world’s saline aquifers and oil and gas reservoirs to store 2 centuries of anthropogenic CO₂ emission. However, the slow pace of CCS implementation is concerning and is due, in part, to too low of an oil price to make CO₂-enhanced oil recovery profitable, lack of financial incentives for CO₂ geological storage, low public acceptance, lack of consistent government energy policy and CCS regulations, and high capital investment. We propose several ways to accelerate CCS implementation. Among others, they include establishing regional CCS corridors to make use of economy of scale, public CCS engagement, carbon pricing, and using public–private partnership for financing, technology transfer, and linking up different stakeholders.
In this paper, we review and analyze the salient features of the ongoing energy transition from a high to a low carbon economy. Our analysis shows that this transition will require decarbonizing the power, transport, and industry sectors, and the transition pathway will be country-specific. Carbon capture and storage (CCS) technologies will play a major role in this energy transition by decarbonizing existing and new fossil fuel power plants and the production of low-carbon fossil-fuel-based blue hydrogen. Blue hydrogen can be used for hydrogen fuel cell mobility in the transport sector and heat and feedstock in the industry sector. Current estimates show that there is adequate CO2 storage capacity in the world’s saline aquifers and oil and gas reservoirs to store 2 centuries of anthropogenic CO2 emission. However, the slow pace of CCS implementation is concerning and is due, in part, to too low of an oil price to make CO2-enhanced oil recovery profitable, lack of financial incentives for CO2 geological storage, low public acceptance, lack of consistent government energy policy and CCS regulations, and high capital investment. We propose several ways to accelerate CCS implementation. Among others, they include establishing regional CCS corridors to make use of economy of scale, public CCS engagement, carbon pricing, and using public–private partnership for financing, technology transfer, and linking up different stakeholders.
Author Radhamani, Adiyodi Veettil
Lau, Hon Chung
Ramakrishna, Seeram
Zhang, Kai
AuthorAffiliation Department of Mechanical Engineering
Department of Civil and Environment Engineering
AuthorAffiliation_xml – name: Department of Civil and Environment Engineering
– name: Department of Mechanical Engineering
Author_xml – sequence: 1
  givenname: Hon Chung
  orcidid: 0000-0001-7749-1256
  surname: Lau
  fullname: Lau, Hon Chung
  email: honchung.lau@gmail.com
  organization: Department of Civil and Environment Engineering
– sequence: 2
  givenname: Seeram
  orcidid: 0000-0001-8479-8686
  surname: Ramakrishna
  fullname: Ramakrishna, Seeram
  organization: Department of Mechanical Engineering
– sequence: 3
  givenname: Kai
  surname: Zhang
  fullname: Zhang, Kai
  organization: Department of Civil and Environment Engineering
– sequence: 4
  givenname: Adiyodi Veettil
  surname: Radhamani
  fullname: Radhamani, Adiyodi Veettil
  organization: Department of Civil and Environment Engineering
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Snippet In this paper, we review and analyze the salient features of the ongoing energy transition from a high to a low carbon economy. Our analysis shows that this...
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SubjectTerms carbon
carbon dioxide
carbon sequestration
economic investment
economies of scale
energy
energy policy
feedstocks
fossil fuels
heat
hydrogen
hydrogen fuel cells
industry
oils
prices
public-private partnerships
stakeholders
technology transfer
Title The Role of Carbon Capture and Storage in the Energy Transition
URI http://dx.doi.org/10.1021/acs.energyfuels.1c00032
https://www.proquest.com/docview/2574376228
Volume 35
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