Comprehensive evaluation of CCUS technology: A case study of China's first million-tonne CCUS-EOR project

IF 11.3 1区化学 Q1 CHEMISTRY, PHYSICAL

ACS Catalysis Pub Date : 2024-09-30 DOI:10.1016/j.eiar.2024.107684

Ling Miao, Lianyong Feng, Yue Ma

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Abstract

CCUS, an emerging technology for reducing carbon emission, plays a crucial role in achieving the goal of carbon neutrality. CCUS technology exemplified by CO₂ enhanced oil recovery (EOR) is gradually progressing from project demonstration to large-scale application. However, the commercial application still faces uncertainties in economic cost, energy efficiency and environmental benefits. This paper takes China's first million-tonne CCUS-EOR project (Qilu Petrochemical-Shengli Oilfield CCUS-EOR project) as an example, and establishes a comprehensive research framework for evaluating CCUS from the three dimensions of energy, environment, and economy, based on economic viability, energy input-output analysis, and carbon input-output analysis. The results demonstrate that during the project lifecycle, when the average oil price is $90/bbl, the project's NPV is $56.09 million, the project's IRR is 13.4 %, the payback period is 8.34 years, and the threshold oil price for the project to be economically profitable is $81.52/bbl. Furthermore, the Energy Return on Investment (EROI) of the project is 9.09, which considerably superior to that of the Shengli Oilfield's non-EOR, and the net energy output is approximately 18,472.57 kilobarrels. The Carbon Return on Investment (CROI) of the project is 4.12, with significant environmental benefits, and the cumulative net carbon emission reduction is approximately 8078.55 kilotonnes. Furthermore, the trends in EROI and CROI of the CCUS-EOR project demonstrate nearly opposite trajectories. The variation trends in EROI emerge N-shaped curve, while that of CROI emerge S-shaped curve. In summary, the Qilu Petrochemical-Shengli Oilfield CCUS-EOR project exhibits notable advantages in terms of energy efficiency and environmental benefits. However, the threshold oil price for triggering economic profitability is relatively high, which may pose certain economic risks to investors during periods of low oil price.

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全面评估 CCUS 技术：中国首个百万吨级 CCUS-EOR 项目案例研究

CCUS 作为一种新兴的碳减排技术，在实现碳中和目标方面发挥着至关重要的作用。以二氧化碳提高石油采收率（EOR）为代表的 CCUS 技术正逐步从项目示范走向大规模应用。然而，商业应用在经济成本、能源效率和环境效益等方面仍面临不确定性。本文以中国首个百万吨级CCUS-EOR项目（齐鲁石化-胜利油田CCUS-EOR项目）为例，从经济可行性、能源投入产出分析和碳投入产出分析三个维度，建立了从能源、环境和经济三个维度评价CCUS的综合研究框架。结果表明，在项目生命周期内，当平均油价为 90 美元/桶时，项目的净现值为 5609 万美元，项目的内部收益率为 13.4%，投资回收期为 8.34 年，项目经济盈利的临界油价为 81.52 美元/桶。此外，项目的能源投资回报率（EROI）为 9.09，大大优于胜利油田非 EOR 项目，净能源产出约为 18,472.57 千桶。项目的碳投资回报率（CROI）为 4.12，环境效益显著，累计净碳减排量约为 8078.55 千吨。此外，CCUS-EOR 项目的 EROI 和 CROI 变化趋势呈现出几乎相反的轨迹。EROI的变化趋势呈 "N "形曲线，而CROI的变化趋势呈 "S "形曲线。总之，齐鲁石化-胜利油田 CCUS-EOR 项目在能源效率和环境效益方面具有显著优势。但是，触发经济收益的临界油价相对较高，在低油价时期可能会给投资者带来一定的经济风险。

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来源期刊

ACS Catalysis CHEMISTRY, PHYSICAL-

CiteScore

20.80

自引率

6.20%

发文量

1253

审稿时长

1.5 months

期刊介绍： ACS Catalysis is an esteemed journal that publishes original research in the fields of heterogeneous catalysis, molecular catalysis, and biocatalysis. It offers broad coverage across diverse areas such as life sciences, organometallics and synthesis, photochemistry and electrochemistry, drug discovery and synthesis, materials science, environmental protection, polymer discovery and synthesis, and energy and fuels. The scope of the journal is to showcase innovative work in various aspects of catalysis. This includes new reactions and novel synthetic approaches utilizing known catalysts, the discovery or modification of new catalysts, elucidation of catalytic mechanisms through cutting-edge investigations, practical enhancements of existing processes, as well as conceptual advances in the field. Contributions to ACS Catalysis can encompass both experimental and theoretical research focused on catalytic molecules, macromolecules, and materials that exhibit catalytic turnover.