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Estimation of CO 2 Transport Costs in South Korea Using a Techno-Economic Model

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  • Kwangu Kang

    (Offshore CCS Research Unit, Korea Research Institute of Ships and Ocean Engineering, 32 1312 Beon-gil, Yuseong-daero, Yuseong-gu, Daejeon 305-343, Korea)

  • Youngkyun Seo

    (Division of Ocean Systems Engineering, Korea Advanced Institute of Science and Technology, 291 Daehak-ro, Yuseong-gu, Daejeon 305-701, Korea)

  • Daejun Chang

    (Division of Ocean Systems Engineering, Korea Advanced Institute of Science and Technology, 291 Daehak-ro, Yuseong-gu, Daejeon 305-701, Korea)

  • Seong-Gil Kang

    (Offshore CCS Research Unit, Korea Research Institute of Ships and Ocean Engineering, 32 1312 Beon-gil, Yuseong-daero, Yuseong-gu, Daejeon 305-343, Korea)

  • Cheol Huh

    (Ocean Science & Technology School, Korea Maritime and Ocean University, 727 Taejong-ro, Youngdo-gu, Busan 606-791, Korea)

Abstract

In this study, a techno–economic model was used to calculate the costs of CO 2 transport and specify the major equipment required for transport in order to demonstrate and implement CO 2 sequestration in the offshore sediments of South Korea. First, three different carbon capture and storage demonstration scenarios were set up involving the use of three CO 2 capture plants and one offshore storage site. Each transport scenario considered both the pipeline transport and ship transport options. The temperature and pressure conditions of CO 2 in each transport stage were determined from engineering and economic viewpoints, and the corresponding specifications and equipment costs were calculated. The transport costs for a 1 MtCO 2 /year transport rate were estimated to be US$33/tCO 2 and US$28/tCO 2 for a pipeline transport of ~530 km and ship transport of ~724 km, respectively. Through the economies of scale effect, the pipeline and ship transport costs for a transport rate of 3 MtCO 2 /year were reduced to approximately US$21/tCO 2 and US$23/tCO 2 , respectively. A CO 2 hub terminal did not significantly reduce the cost because of the short distance from the hub to the storage site and the small number of captured sources.

Suggested Citation

  • Kwangu Kang & Youngkyun Seo & Daejun Chang & Seong-Gil Kang & Cheol Huh, 2015. "Estimation of CO 2 Transport Costs in South Korea Using a Techno-Economic Model," Energies, MDPI, vol. 8(3), pages 1-21, March.
    • Handle: RePEc:gam:jeners:v:8:y:2015:i:3:p:2176-2196:d:47067
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    References listed on IDEAS

    as
    1. Matthias Finkenrath, 2011. "Cost and Performance of Carbon Dioxide Capture from Power Generation," IEA Energy Papers 2011/5, OECD Publishing.
    2. repec:cdl:itsdav:qt1zg00532 is not listed on IDEAS
    3. repec:cdl:itsdav:qt2gk0j8kq is not listed on IDEAS
    4. Parker, Nathan, 2004. "Using Natural Gas Transmission Pipeline Costs to Estimate Hydrogen Pipeline Costs," Institute of Transportation Studies, Working Paper Series qt9m40m75r, Institute of Transportation Studies, UC Davis.
    5. Kim, Jaehoon & Kim, Sangsin, 2015. "2012년 국회법 개정의 효과 연구 [A Study on the Effect of the 2012 National Assembly Act Amendment]," KDI Research Monographs, Korea Development Institute (KDI), volume 127, number v:2015-03(k):y:2015:p:1-1.
    6. Jung, Jung-Yeul & Huh, Cheol & Kang, Seong-Gil & Seo, Youngkyun & Chang, Daejun, 2013. "CO2 transport strategy and its cost estimation for the offshore CCS in Korea," Applied Energy, Elsevier, vol. 111(C), pages 1054-1060.
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    Cited by:

    1. Al Baroudi, Hisham & Awoyomi, Adeola & Patchigolla, Kumar & Jonnalagadda, Kranthi & Anthony, E.J., 2021. "A review of large-scale CO2 shipping and marine emissions management for carbon capture, utilisation and storage," Applied Energy, Elsevier, vol. 287(C).
    2. Hyonjeong Noh & Kwangu Kang & Cheol Huh & Seong-Gil Kang & Seong Jong Han & Hyungwoo Kim, 2019. "Conceptualization of CO 2 Terminal for Offshore CCS Using System Engineering Process," Energies, MDPI, vol. 12(22), pages 1-18, November.

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