Carbon Capture and Storage - Economic Challenges and Infrastructure

Recent experience shows that capturing and storing CO₂ emissions directly at the point of emission is a key factor in reducing the cost and sustainability of such projects.

However, without subsidies the costs are significantly high, as they involve high investment costs for the capture, transport and storage of CO₂. It all depends on the technology used and the choice of treatment location. Global annual CO₂ emissions amount to 37-38 billion tonnes; around 2 billion metric tonnes of CO₂ are removed from the atmosphere annually. However, most of this removal is attributed to natural processes such as forests, rather than carbon capture technologies, which currently account for only a small fraction of total removal.

The technology, safety standards and carbon liquefaction are available, but costs remain high due to the complexity of the transport system. In all cases of projects where shipping is required, it is necessary to have a pipeline that reaches the shore adjacent to the liquefaction facility prior to shipping for storage. Instead of subsidies for maritime transport, more emphasis should be placed on capturing CO₂ on-site to reduce long and costly transport.

In general, maritime transport of carbon dioxide has more disadvantages than pipelines, fact that explains the increasing shift of companies towards pipeline projects. The pipelines offer stable transport of CO₂ in large quantities for decades, without being affected by weather conditions or producing the emissions associated with shipping. When comparing total life cycle costs, including land and sea transport, sequestration, liquefaction, compressors and carbon emission allowances, pipelines emerge as the most cost-effective option. Although CO₂ requires collection and purification at the point of emission before being managed and injected into the capture site, pipeline compression and transport is simpler than a combination of storage, liquefaction and storage before and after sea transport.

To fully harness the advantages of carbon capture and storage while maintaining financial stability, it is essential to strike a balance between necessary support and long-term sustainability. Infrastructure corridors connecting natural resources to markets should facilitate energy transitions rather than serve as outright replacements, as prolonged subsidies impose significant strain on public finances, ultimately leading to unsustainable economic practices. Directly capturing and storing CO₂ emissions at their source will be a key determinant in shaping the future of such initiatives. 

Η δέσμευση και αποθήκευση CO2 - Οικονομικές Προκλήσεις και Υποδομές

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