Transport and Geological Storage of Captured CO2 : Literature review and cost calculations of CO2 transport and storage in the North Sea region

Sammanfattning

As the world moves towards stringent emissions targets in order to reach climate goals, especially for hard-to-abate-emission industries, Bio-Energy with Carbon Capture and Storage (BECCS) has emerged as a viable solution, providing negative emissions. In combined heat and power (CHP)plants, BECCS captures CO2 from carbon-neutral emissions generated by biomass combustion, following which the CO2 is transported and stored in underground storage sites. This negative-emissions approach can help negate residual emissions from industrial sectors. The successful deployment of BECCS requires focus on the transport and storage infrastructurejust as much as on the CO2 capture technology. For captured CO2 to be moved and stored at scale, knowledge and development of reliable CO2 transport and secure geological sites are essential. This Master’s thesis presents a detailed literature review of types of geological storage of CO2 as well as its trapping mechanisms, and the main CO2 transport modes (pipelines and ships). The literature review is followed by detailed cost estimations of the transport and storage value chains, with a focus on ship transport of CO2 and two main offshore storage types (saline aquifers and depleted oil & gas fields). The cost estimation model developed in the thesis is applied to three different storage sites in the North Sea region, in order to obtain insights on how the distance from the source (Stockholm Exergi) to the storage site, and the type and capacity of storage, affect the overall costs. The calculated values from the cost estimation models for CO2 transport and storage are then input intoNet Present Value (NPV) calculations to obtain levelized costs and to estimate the transport and storage price per ton of CO2. The calculations show that the range of levelized costs of CO2transport is 11-15 €/ton of CO2, the levelized cost of CO2 storage is 5-17 €/ton of CO2, and the overall levelized cost of CO2 transport and storage is 16-31 €/ton of CO2. For the base case (Norway, 5 Mtpa), the CO2 transport and storage price is approximately 69 €/ton of CO2, representing the expected price of the service that will be charged to the CO2 emitter. Sensitivity analyses were conducted to evaluate the impact of changes in capital expenditure(CAPEX), internal rate of return (IRR), and ship fuel choices on CO2 transport and storage price. These analyses provide insight into the contribution of various cost factors to the overall costs of CO2 transport and storage, supporting more informed decision-making for future BECCS deployment.