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Chapter 8: Cost and economic potential 345 Figure 8.1 CO2 transport costs range for onshore and offshore pipelines per 250 km, ‘normal’ terrain conditions. The figure shows low (solid lines) and high ranges (dotted lines). Data based on various sources (for details see Chapter 4). fees, and bunker fuel. The construction costs for large special- purpose CO2 tankers are not accurately known since none have been built to date. On the basis of preliminary designs, the costs of CO2 tankers are estimated at US$ 34 million for ships of 10,000 tonnes, US$ 58 million for 30,000-tonne vessels, and US$ 82 million for ships with a capacity of 50,000 tonnes. and the geological characteristics of the storage formation (e.g., permeability, thickness, etc.). Representative estimates of the cost for storage in saline formations and disused oil and gas fields (see Table 8.2) are typically between 0.5–8.0 US$/ tCO2 stored (2–29 US$/tC), as explained in Section 5.9.3. The lowest storage costs will be associated with onshore, shallow, high permeability reservoirs and/or the reuse of wells and infrastructure in disused oil and gas fields. To transport 6 MtCO2 per year a distance of 500 km by ship would cost about 10 US$/tCO2 (37 US$/tC) or 5 US$/ tCO2/250km (18 US$/tC/250km). However, since the cost is relatively insensitive to distance, transporting the same 6 MtCO2 a distance of 1250 km would cost about 15 US$/tCO2 (55 US$/tC) or 3 US$/tCO2/250km (11 US$/tC/250km). This is close to the cost of pipeline transport, illustrating the point that ship transport becomes cost-competitive with pipeline transport if CO2 needs to be transported over larger distances. However, the break-even point beyond which ship transportation becomes cheaper than pipeline transportation is not simply a matter of distance; it involves many other aspects. The full range of cost estimates for individual options is very large. Cost information for storage monitoring is currently limited, but monitoring is estimated to add 0.1–0.3 US$ per tonne of CO2 stored (0.4–1.1 US$/tC). These estimates do not include any well remediation or long-term liabilities. The costs of storage monitoring will depend on which technologies are used for how long, regulatory requirements and how long-term monitoring strategies evolve. 8.2.3 Storage Because the technologies and equipment used for geological storage are widely used in the oil and gas industries, the cost estimates can be made with confidence. However, there will be a significant range and variability of costs due to site- specific factors: onshore versus offshore, the reservoir depth 3 This section is based on material presented in Section 5.9. The reader is referred to that section for a more detailed analysis and literature references. When storage is combined with EOR, enhanced gas recovery (EGR) or ECBM, the benefits of enhanced production can offset some of the capture and storage costs. Onshore EOR operations have paid in the range of 10–16 US$ per tonne of CO2 (37–59 US$/tC). The economic benefit of enhanced production depends very much on oil and gas prices. It should be noted that most of the literature used as the basis for this report did not take into account the rise in oil and gas prices that started in 2003. For example, oil at 50 US$/barrel could justify a credit of 30 US$/tCO2 (110 US$/tC). The economic benefits from enhanced production make EOR and ECBM potential early cost-effective options for geological storage. 8.2.3.1 Geological storage3PDF Image | CARBON DIOXIDE CAPTURE AND STORAGE
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