Abstract
Global Carbon Policy Analysis Policy Initiatives Driving the Growth of the
Carbon Sequestration Market
Summary
Global and regional emissions trading markets are emerging and drive strategic
energy policy.
It is becoming increasingly vital to achieve global carbon
trading schemes and meet the wider environmental challenge.
Clean
Development Mechanism is key to engaging emerging economies like China, India,
etc to address the challenges of environmental pollution and global
warming.
Such mechanisms, which are the need of the hour, can only be
developed through carbon policies that promote greater carbon sequestration
and less emissions.
Scope
- What is the context of a global Carbon Sequestration Strategy in terms of
land management services, physical resources, human resources and the
importance of resource availability?
- Detailed information on Carbon
sequestration practices.
- How to select a carbon sequestration
policy?
- What are the various types of Policy Tools?
- What is the
role of national governments and regional bodies?
- The different
regulatory programs adopted in different countries across the globe.
- How
can Carbon policies be implemented successfully through practice-based
incentives?
- How can results-based incentives help in implementing carbon
policies?
Reasons to buy
- Devise business strategies by understanding the need for a global carbon
sequestration policy to increase your revenues.
- Make informed business
decisions and maximize investment returns by identifying potential areas of
investment opportunities in carbon sequestration practices and how to select a
sequestration policy.
- Exploit opportunities from carbon policies in
different countries to drive profitability.
Keywords
carobn, capture, store, CCS, sequestration, R&D, budget, policy, energy,
projects, investment, capex, energy
Table of Contents
1 Table Of Contents 2
1.1 List of Tables 6
1.2 List of Figures 7
2
Executive Summary 9
2.1 Introduction and Overview of Carbon Sequestration
9
2.2 Major Drivers for Carbon Sequestration 9
2.3 US Policy
Initiatives Driving Carbon Sequestration Projects 10
2.4 European
Commission’s Energy and Climate Change Package Fortifies the Global CCS
Initiatives 10
2.5 Impact of Carbon Sequestration on Energy Costs 11
2.6 Oil and Gas Companies involved in Carbon Sequestration Initiatives and its
Impact on their Future Business Value 11
3 Green House Gas (GHG) Emissions
and Its Impact on Global Carbon Policies 12
3.1 Impact of Green House
Gases on Ecology 12
3.1.1 Introduction to Global Warming 12
3.1.2
Naturally Occurring Carbon Cycle 13
3.1.3 Illustrations of Ecological
Imbalance due to Excess Carbon 14
3.2 Global Initiatives to Reduce Carbon
Footprint 14
3.2.1 The Kyoto Protocol and its Implementation Challenges
14
3.2.2 Alternate Initiatives to Reduce Carbon Footprint and Their Impact
on Reduction of Carbon Footprint 15
3.2.3 The Need for Artificial Carbon
Sequestration 15
4 Introduction to Carbon Sequestration, Various
Technologies and Challenges 16
4.1 Methods of Carbon Capture 16
4.1.1
Post-Combustion Carbon Capture 16
4.1.2 Pre-Combustion Carbon Capture
16
4.1.3 Oxy-fuel Combustion 16
4.1.4 Other Methods of Carbon Capture
16
4.2 Carbon Transportation 16
4.2.1 Various Modes of Carbon dioxide
Transportation 16
4.3 Various Methods of Carbon Storage 17
4.3.1
Geological Storage 17
4.3.2 Ocean Storage 17
4.3.3 Mineral Storage
17
4.3.4 Terrestrial Sequestration 17
4.4 Reuse of Carbon 18
4.4.1
Conversion into Hydrocarbons 18
4.5 Research and Scientific Challenges
18
4.5.1 Design and Technical Challenges in Building CCS Facilities 18
4.6 Impact on Environment and Energy Utilization 18
4.6.1 Safety Concerns
on Leakage of CO2 18
4.6.2 Energy Consumed in Carbon Sequestration Process
19
5 Major Policy Initiatives for Carbon Sequestration 20
5.1 Carbon
Sequestration in US’ Energy Policies 20
5.1.1 American Clean Energy
and Security Act and its Implications 20
5.1.2 Gaining Significance of
Carbon Sequestration in US Climatic Bills 23
5.2 European Commission
Funding on Reducing CO2 Emissions through CCS 24
5.2.1 European
Union’s Climate Change Policy 24
5.3 Support for Carbon Policy
Initiatives in Rest of the World 29
5.3.1 Initiatives in Canada Boost
Carbon Sequestration 29
5.3.2 Proposals between China and European Union
Fortifies the CCS Projects in Emerging Economies 29
5.3.3
Australia’s Carbon Trading Scheme Aids the Progress in CCS Projects
30
6 Global Carbon Sequestration Projects in Progress 32
6.1 Global
Carbon Sequestration Projects 32
6.1.1 Major Sequestration Projects 32
6.1.2 Major Carbon Capture Facilities 35
6.1.3 Major Carbon Injection and
Storage Facilities 36
6.1.4 Major Pre-Combustion Carbon Capture Facilities
37
6.1.5 Investments in CCS Projects by Major Geographies 38
6.1.6 CCS
Projects based on Type of Plant 39
6.1.7 CCS Projects based on Fuel Used
41
6.2 Carbon Sequestration Initiatives in North America 42
6.2.1
Carbon Emissions in US 42
6.2.2 Potential for Carbon Sequestration in US
by Region 43
6.2.3 Regional Carbon Sequestration Partnerships in US and
Canada 45
6.2.4 Current Carbon Sequestration Projects in US by Method of
Capture and Stage 53
6.2.5 Financial Support for Carbon Sequestration in
US 54
6.2.6 Completed CBMR Project in Canada 55
6.2.7 Planned Projects
in Canada 55
6.2.8 Impetus to Carbon Capture Projects in Canada 56
6.3
Carbon Sequestration Initiatives in Europe 56
6.3.1 Co-operation between
Industries and EU Member States is Promoting Commercialization of CCS Projects
56
6.3.2 Several Countries, Universities, Power Generation Companies and
Oil and Gas Majors Driving Carbon Sequestration Projects in Europe 64
6.4
Carbon Sequestration Initiatives in the Rest of the World 65
6.4.1 Carbon
Sequestration Projects in Australia 65
6.4.2 Carbon Sequestration Projects
in China 67
7 Economics of Carbon Sequestration 69
7.1 Cost of CO2
Avoided 69
7.1.1 Cost of CO2 Predicted by Various Models 69
7.1.2 Cost
of CO2 Capture and Storage per Ton Based on Power Plant, Storage Location and
Fuel Production 70
7.1.3 Cost of CO2 Capture, Transportation and Storage
for Early Commercialization 71
7.1.4 Reducing Carbon dioxide Costs by
Deploying Renewable Energy Sources 76
7.1.5 Reducing Carbon dioxide Costs
by Deploying Innovative Capture Technologies 78
8 Key Oil & Gas Companies
focused on Carbon Sequestration 79
8.1 BP 79
8.1.1 Completed Carbon
Sequestration Projects 79
8.1.2 Planned and Operational Carbon
Sequestration Projects 79
8.2 ConocoPhillips 80
8.2.1 Planned Carbon
Sequestration Research Projects 80
8.2.2 Operational Carbon Sequestration
Research Projects 80
8.3 Royal Dutch Shell 80
8.3.1 Planned Carbon
Sequestration Projects 80
8.4 StatoilHydro 81
8.4.1 Operational Carbon
Sequestration Projects 81
8.4.2 Planned Carbon Sequestration Projects
81
8.5 Encana 82
8.5.1 Operational Carbon Sequestration Projects
82
8.6 ExxonMobil 82
8.6.1 Carbon Sequestration Partnerships 82
8.7 Chevron 82
8.7.1 Planned Carbon Sequestration Projects 82
9
Appendix 83
9.1 Methodology 83
9.1.1 Coverage 83
9.1.2 Secondary
Research 84
9.1.3 Primary Research 84
9.1.4 Expert Panel Validation
85
9.2 Units of Measure 85
9.3 Contact Us 85
9.4 About GlobalData
86
9.5 Disclaimer 86
1.1 List of Tables
Table 1: Percentage
of Allowances that can be Auctioned by Member States in Europe 27
Table 2:
Distribution of Allowances that can be Auctioned by Member States 28
Table
3: World, Major Sequestration Planned, Demonstration and Operational Projects,
2008 33
Table 4: World, Investments in CCS Projects by Geography, 2008
38
Table 5: World, CCS Projects by the Type of Plant, 2008 40
Table 6:
World, CCS Projects by Fuel Type, 2008 41
Table 7: US, Federal Budget for
Various Stages of Carbon Sequestration Projects , 2008 54
Table 8: Europe,
Funding of Integrated Carbon Sequestration Projects, 2008 57
Table 9:
Europe, Funding of Specific Technical Research Projects, 2008 58
Table 10:
Europe, Total Number of Carbon Sequestration Projects by Geography, 2008
60
Table 11: Europe, Major Investments by Country towards Carbon
Sequestration, 2008 61
Table 12: Europe, List of Carbon Capture and
Storage Projects, 2008 62
Table 13: Europe, List of Carbon Capture and
Storage Projects, 2008 (Contd — ) 63
Table 15: Australia,
Investments in Carbon Sequestration Projects, 2008 65
Table 16: Range of
Carbon Costs for Different Modes of Storage 70
Table 17: The Cost of
Carbon Capture, Transportation and Storage in Euros Per Tonne For Early
Commercialization 71
Table 18: Elements of Carbon Capture Costs in Euros
Per Tonne for Early Commercialization Projects 72
Table 19: Elements of
Carbon Transportation Costs in Euros Per Tonne For Early Commercialization
Projects 73
Table 20: Elements of Carbon Storage Costs in Depleted Oil/Gas
Fields in Euros Per Tonne for Early Commercialization Projects 74
Table
21: Elements of Carbon Storage Costs in Saline Aquifer in Euros Per Tonne for
Early Commercialization Projects 75
Table 22: US, Avoided Carbon Emissions
by CCS Vis-à-Vis Renewable Energy Sources Deployment 76
1.2 List
of Figures
Figure 1: Naturally Occurring Carbon Cycle 13
Figure 2: US,
Impact of Various Initiatives to Reduce GHGs, 2005-50 23
Figure 3:
Percentage of Allowances that can be Auctioned by Member States in Europe
26
Figure 4: Distribution of Allowances that can be Auctioned by Member
States 28
Figure 5: Carbon Emission Reduction Targets Set by Australian
Government, 2009 31
Figure 6: World, Major Sequestration Projects, 2008
32
Figure 7: Percentage Share Of Oil And Gas Companies In In Salah Gas
(ISG) Project, 2006 34
Figure 8: World, Major Carbon Capture Facilities,
2008 35
Figure 9: World, Carbon Dioxide Injection and Storage Activities,
2008 36
Figure 10: World, Pre-Combustion Carbon Capture Projects, 2008
37
Figure 11: World, Investments in CCS Projects by Geography, 2008 38
Figure 12: World, CCS Projects by the Type of Plant, 2008 39
Figure 13:
World, CCS Projects by Fuel Type, 2008 41
Figure 14: US, Potential Carbon
Storage Locations 43
Figure 15: US, Concentration of Magnesium Silicate
Deposits 44
Figure 16: US, Carbon Sequestration Partnerships, 2008 45
Figure 17: US, CCS Project by WESTCARB, 2008 46
Figure 18: US, Carbon
Sequestration Projects by SWP, 2008 47
Figure 19: US, CCS Projects by
BSCSP, 2008 48
Figure 20: US, CCS Projects by PCOR Partnership, 2008
49
Figure 21: US, CCS Projects by SECARB, 2008 50
Figure 22: US, CCS
Projects by MGSC, 2008 51
Figure 23: US, CCS Projects by MRCSP, 2008
52
Figure 24: US, Carbon Sequestration Projects, 2009 53
Figure 25:
US, Federal Budget for Various Stages of Carbon Sequestration Projects , 2008
54
Figure 26: Canada, Planned Carbon Sequestration Projects, 2008 55
Figure 27: Europe, Funding of Integrated Carbon Sequestration Projects, 2008
56
Figure 28: Europe, Funding of Specific Technical Research Projects,
2008 58
Figure 29: Europe, Total Number of Carbon Sequestration Projects
by Geography, 2008 60
Figure 30: Europe, Major Investments by Country
towards Carbon Sequestration, 2008 61
Figure 31: Australia, Investments in
Carbon Sequestration Projects, 2008 65
Figure 32: Australia, Phase, Stage
and Mode of Carbon Storage Projects, 2008 66
Figure 33: World, Cost of
Carbon Dioxide Predicted by Various Methods and Companies 69
Figure 34:
Range of Carbon Costs for Different Modes of Storage 70
Figure 35: The
Cost of Carbon Capture, Transportation and Storage in Euros Per Tonne For
Early Commercialization 71
Figure 36: Elements of Carbon Capture Costs
in Euros Per Tonne for Early Commercialization Projects 72
Figure 37:
Elements of Carbon Transportation Costs in Euros Per Tonne For Early
Commercialization Projects 73
Figure 38: Elements of Carbon Storage Costs
in Depleted Oil/Gas Fields in Euros Per Tonne for Early Commercialization
Projects 74
Figure 39: Elements of Carbon Storage Costs in Saline Aquifer
in Euros Per Tonne for Early Commercialization Projects 75
Figure 40: US,
Avoided Carbon Emissions by CCS Vis-à-Vis Renewable Energy Sources
Deployment 76
Figure 41: Innovation Road Map Of Various Carbon Capture
Technologies 78
Figure 42: GlobalData Methodology 83
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