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An Overview of Economic Analysis and Environmental Impacts of Natural Gas Conversion Technologies

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  • Freida Ozavize Ayodele

    (Department of Accounting and Finance, Faculty of Business and Management, UCSI University, Kuala Lumpur, 1 Jalan Menara Gading, Taman Connaught, Cheras 56000, Kuala Lumpur, Malaysia)

  • Siti Indati Mustapa

    (Institute of Energy Policy and Research, Universiti Tenaga Nasional, Jalan IKRAM-UNITEN, Kajang 43000, Selangor, Malaysia)

  • Bamidele Victor Ayodele

    (Institute of Energy Policy and Research, Universiti Tenaga Nasional, Jalan IKRAM-UNITEN, Kajang 43000, Selangor, Malaysia)

  • Norsyahida Mohammad

    (Institute of Energy Policy and Research, Universiti Tenaga Nasional, Jalan IKRAM-UNITEN, Kajang 43000, Selangor, Malaysia)

Abstract

This study presents an overview of the economic analysis and environmental impact of natural gas conversion technologies. Published articles related to economic analysis and environmental impact of natural gas conversion technologies were reviewed and discussed. The economic analysis revealed that the capital and the operating expenditure of each of the conversion process is strongly dependent on the sophistication of the technical designs. The emerging technologies are yet to be economically viable compared to the well-established steam reforming process. However, appropriate design modifications could significantly reduce the operating expenditure and enhance the economic feasibility of the process. The environmental analysis revealed that emerging technologies such as carbon dioxide (CO 2 ) reforming and the thermal decomposition of natural gas offer advantages of lower CO 2 emissions and total environmental impact compared to the well-established steam reforming process. Appropriate design modifications such as steam reforming with carbon capture, storage and utilization, the use of an optimized catalyst in thermal decomposition, and the use of solar concentrators for heating instead of fossil fuel were found to significantly reduced the CO 2 emissions of the processes. There was a dearth of literature on the economic analysis and environmental impact of photocatalytic and biochemical conversion processes, which calls for increased research attention that could facilitate a comparative analysis with the thermochemical processes.

Suggested Citation

  • Freida Ozavize Ayodele & Siti Indati Mustapa & Bamidele Victor Ayodele & Norsyahida Mohammad, 2020. "An Overview of Economic Analysis and Environmental Impacts of Natural Gas Conversion Technologies," Sustainability, MDPI, vol. 12(23), pages 1-18, December.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:23:p:10148-:d:456901
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