IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v294y2024ics0360544224005280.html
   My bibliography  Save this article

CO2 abatement feasibility for blast furnace CCUS retrofits in BF-BOF steel plants in China

Author

Listed:
  • Gu, Changwan
  • Li, Kai
  • Gao, Shikang
  • Li, Jiayu
  • Mao, Yifan

Abstract

As one of the energy and carbon intensive industries, the steel industry's low-carbon transition will contribute to the achievement of China's carbon neutrality goal. In this study, a comprehensive source-sink matching-trinomial tree real option evaluation model for China's steel industry was established by combining the database of carbon emissions from blast furnaces of BF-BOF process steel plants, and onshore and offshore CO2 storage potential and injection capacity rate database. By using this model, we investigate the CO2 abatement potential and investment decisions for blast furnace CCUS full-chain projects in China's BF-BOF process steel plants. The results show that a total of 420.07Mt/a of CO2 reductions can be achieved, attributed to 111 steel plants screened for source-sink matching. If no extra incentive policy was included, the current carbon market only supported immediate investment in 14 steel plant CCUS retrofit full-chain projects, which could achieve 36.47Mt/a of CO2 reductions, with a critical carbon price ranging from 6.96 to 202.98USD/t, averaged at 86.97 USD/t. Technological advances, rising carbon prices and government incentives would all contribute to the development of CCUS full-chain projects in the steel industry. The findings provide a strategy for the deployment of blast furnace CCUS retrofit in China's steel industry.

Suggested Citation

  • Gu, Changwan & Li, Kai & Gao, Shikang & Li, Jiayu & Mao, Yifan, 2024. "CO2 abatement feasibility for blast furnace CCUS retrofits in BF-BOF steel plants in China," Energy, Elsevier, vol. 294(C).
    • Handle: RePEc:eee:energy:v:294:y:2024:i:c:s0360544224005280
    DOI: 10.1016/j.energy.2024.130756
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544224005280
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2024.130756?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:294:y:2024:i:c:s0360544224005280. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.