Economic feasibility study for CO2 ocean sequestration SCOPUS KCI

Title
Economic feasibility study for CO2 ocean sequestration
Author(s)
Park, S.-H.; Oh, W.-Y.; Kwon, M.-S.
KIOST Author(s)
Park, Se Hun(박세헌)
Publication Year
2005
Abstract
The CO2 storage in geologic and oceanic reservoirs is considered to be one of the carbon management strategies for responding to global climate change. Ocean carbon sequestration is purposeful storage acceleration into the ocean of large amounts of carbon that would accumulate in the atmosphere and naturally enter the ocean over a longer timespan. Some technologies for CO2 ocean sequestrations have been developed as a nation project. However, CO2 ocean sequestrations are attractive because they have the advantage of vast capacity sequestration far away from industrial areas, and offer easier monitoring whereas less economic advantage has been indicated as one of the key barriers compared with CO2 geosphere sequestration, which is produced as a byproduct. In this paper, a conceptual design for CO2 ocean sequestration is introduced, and the preliminary examination is described. As a result, the CO2 price, US$ 24/t shows far away from the economics. The causes come from the expensive CO2 recovery cost and the low CO2 price. The expensive CO2 recovery cost is because too much electricity and water are consumed. In order to look for an economic balance point for CO2 ocean sequestration, NPV=0, it is increases the CO2 price. Finally 60.4$ per ton is found to be the balance price.
ISSN
1598-141X
URI
https://sciwatch.kiost.ac.kr/handle/2020.kiost/5123
DOI
10.4217/OPR.2005.27.4.451
Bibliographic Citation
Ocean and Polar Research, v.27, no.4, pp.451 - 461, 2005
Publisher
Korea Ocean Research and Development Institute
Subject
carbon dioxide; carbon sequestration; environmental economics; feasibility study; source-sink dynamics; Nucleopolyhedrovirus
Keywords
CO2; CO2 recovery; Economic evaluation; Ocean sequestration
Type
Article
Language
Korean
Document Type
Article
Publisher
Korea Ocean Research and Development Institute
Related Researcher
Research Interests

Economics Analysis of the Ocean Science and Technology,Marine Industry Policy,해양과학기술 경제성 분석,해양산업정책

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