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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

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    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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