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Chapter 8: Cost and economic potential 355 Figure 8.6 Global cumulative CO2 storage (2000–2100) in the IPCC TAR mitigation scenarios for the six SRES scenario groups and CO2 stabilization levels between 450 and 750 ppmv. Values refer to averages across scenario results from different modelling teams. The contribution of CCS increases with the stringency of the stabilization target and differs considerably across the SRES scenario groups. 550 ppmv stabilization cases. Fujii and Yamaji (1998) have also included ocean storage as an option. They calculate that, for a stabilization level of 550 ppmv, 920 GtCO2 (250 GtC) of the emissions reductions could be provided by the use of CCS technologies and that approximately one-third of this could be stored in the ocean. This demand for CO2 storage appears to be within global estimates of total CO2 storage capacity presented in Chapters 5 and 6. Recently, two detailed studies of the cost of CO2 transport and storage costs have been completed for North America (Dooley et al., 2004a) and Western Europe (Wildenborg et al., 2004). These studies concur about the large potential of CO2 storage capacity in both regions. Well over 80% of the emissions from current CO2 point sources could be transported and stored in candidate geologic formations for less than 12–15 US$/tCO2 in North America and 25 US$/tCO2 in Western Europe. These studies are the first to define at a continental scale a ‘CO2 storage supply curve’, conducting a spatially detailed analysis in order to explore the relationship between the price of CO2 transport and storage and the cumulative amount of CO2 stored. Both studies conclude that, at least for these two regions, the CO2 storage supply curves are dominated by a very large single plateau (hundreds to thousands of gigatonnes of CO2), implying roughly constant costs for a wide range of storage capacity15. In other words, at a practical level, the cost of CO2 transport and storage in these regions will have a cap. These studies and a handful of others (see, for example, IEA GHG, 2002) have also shown that early (i.e., low cost) opportunities for CO2 capture and storage hinge upon a number of factors: an inexpensive (e.g., high-purity) source of CO2; a (potentially) active area of advanced hydrocarbon recovery (either EOR or ECBM); and the relatively close proximity of the CO2 point source to the candidate storage reservoir in order to minimize transportation costs. These bottom-up studies provide some of the most detailed insights into the graded CCS resources presently available, showing that the set of CCS opportunities likely to be encountered in the real world will be very heterogeneous. These 15 See Chapter 5 for a full assessment of the estimates of geological storage capacity. 8.3.3.2 Timing and deployment ratePDF Image | CARBON DIOXIDE CAPTURE AND STORAGE
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