[email protected]Scottish Carbon Capture & Storage Murchison House, West Mains Road, Edinburgh EH9 3LA Telephone +44 (0)131 650 0270 www.sccs.org.uk Pathway to UK CCS rollout: CO2-EOR Professor Stuart Haszeldine SCCS & UKCCSRC University of Edinburgh UKCCSRC twice-a-year meet Strathclyde, 9 Sept 2015
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Pathway to UK CCS rollout: CO2-EOR · Pathway to UK CCS rollout, CO2-EOR. UKCCSRC Strathclyde 7 9Sept2015 •CCS supplies CO 2 •Financial incentives, set to Profit Index to compete
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Power sector (all sources) has not decarbonised at all since 1990.
Growth in Renewables and Efficiency has matched the increased global demand
UK carbon budget 4: gap by 2027
Pathway to UK CCS rollout, CO2-EOR. UKCCSRC Strathclyde 9Sept2015 2
Gap 70 Mt, progressively increases to 250 Mt : need ways of storing/reducing carbon Gap 70 Mt, progressively increases to 250 Mt : need ways of storing/reducing carbon
Electricity emissions 150Mt/yr
Other fossil fuels 400 Mt/yr
Electricity emissions 150Mt/yr
Other fossil fuels 400 Mt/yr
[email protected] Pathway to UK CCS rollout, CO2-EOR. UKCCSRC Strathclyde 9Sept2015
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• CO2-EOR could produce an extra 1 Billion barrels UKCS oil • Gas injection recovery works in the North Sea, on very large fields • The Prize is blocked by investment size, perceived risk, and CO2 availability • Fiscal allowance CAPEX on fields and clusters needed, to £23 /bbl oilpretax • Environmental and carbon budget effects are similar to oil produced now • Acceleration of CCS development, can deliver adequate CO2 by 2030 • Economic Multipliers are very favourable 7.2 x; better than off-wind or CCS • Carbon budget is favourable, electricity stays “green”, more CO2 is stored • Stakeholders are favourable, if CO2-EOR is part of a low-carbon Transition
Next Phase of CO2-EOR project seeks sponsors, Oct 2015 Next Phase of CO2-EOR project seeks sponsors, Oct 2015