From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
h/t Dennis Ambler
Again to the drafting board!!
27 April 2022 (IEEFA):
At a price of greater than A$3 billion, Gorgon, the biggest carbon seize and storage (CCS) undertaking on the earth has didn’t ship, underperforming its targets for the primary 5 years of operation by about 50% finds a new report from the Institute for Power Economics and Monetary Evaluation (IEEFA).
Carbon seize know-how has traditionally been used as a technique of enhanced oil restoration (EOR) – promoting captured CO2 to grease firms to push extra oil out of depleted wells, making any preliminary “carbon seize” negligible. In line with the International CCS Institute, about 73% of carbon seize globally is presently used for EOR tasks – known as Carbon Seize Utilisation and Storage (CCUS).
In some newer tasks like Western Australia’s Gorgon CCS, as a substitute of being offered for EOR, the captured CO2 is sequestered in devoted geological storage constructions. Though Gorgon’s gasoline plant produced its first LNG cargo in March 2016, the primary CO2 injection from its CCS facility occurred in August 2019 — three and a half yr late.
“Gorgon CCS failed to succeed in its pre-defined targets,” says report creator LNG/gasoline analyst Bruce Robertson. “CCS know-how has been working for 50 years. If Chevron and its companions can’t get it to work these previous 5 years at Gorgon, it’s not an efficient know-how for decreasing carbon emissions.”
Gorgon just lately agreed to purchase and give up credible greenhouse gasoline offsets recognised by the West Australian Authorities to offset its goal shortfall of 5.23 million tonnes of CO2.
“It has been estimated that it might price as much as US$184 million for Chevron and its companions to offset that shortfall,” says Robertson.
“Fairly than persevering with with fossil fuels and the technological impracticalities of making an attempt to seize their air pollution, governments and buyers should deal with the basis trigger, and restrict fossil manufacturing. “Pressing funding in renewable power and storage applied sciences is the cheaper and confirmed pathway going ahead.”
Carbon seize might sooner or later work successfully, however we clearly can’t depend on it now.
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