Carbon capture and storage: net zero contribution and cost estimation approaches

Abstract

Carbon capture, utilization, and storage (CCUS) are a combination of necessary and promising technologies that can help reduce CO2 emissions, which are not used on a large scale due to the high cost of solutions. This article aims to review and analyze carbon capture and storage (CCS) projects in terms of their net zero contribution and cost estimates. The study identified a wide range of cost estimation methods that can be applied to CCS projects and revealed such issues as a lack of standardization, limited data, and cost data variability. Still, several common trends were found, including the classification of CCS adopters into low-cost and high-cost industries, cost estimation by CCS step (capture, transportation, storage) and industry (power generation, other sectors), and calculation of relative indices to make comparisons with other decarbonization options. The results of the study can serve as a foundation for developing approaches to estimating the costs of CCS in Russia, which are necessary for planning government support measures and involving businesses in the implementation of these initiatives.

Strategic Priorities for Green Diversification of Oil and Gas Companies

“…These companies prefer to focus on improving the environmental sustainability of producing and transporting petroleum resources, and they display a strong interest in carbon capture, use, and storage (CCUS) technologies. Ilinova et al [87] and Skobelev et al [88] believe that CCUS technologies are the most efficient solution for the oil and gas industry. As Wang et al state, many oil and gas production technologies can be integrated with CCUS, ensuring reduced carbon intensity of the products [89].…”

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“…For instance, the cost of avoided CO 2 emissions through indirect ocean capture (IOC) was estimated between 373 and 604 per metric ton of CO 2 (Isaac et al, 2020;Stefanović et al, 2014). Another proposed strategy involves a carbon tax policy based on the zero-emissions cost (ZEC) metric, which could potentially shift the energy sector toward netzero emissions, but might also carry the risk of triggering an economic recession (Skobelev et al, 2023;Zibunas et al, 2022). Additionally, the adoption of net-zero emission buildings in Australia resulted in the effective reduction of 44 Mt of CO 2 emissions per year, although the associated implementation cost was not specified.…”

“…Research shows that smaller companies face both credit constraints and a lack of green management, which hinders their investment in cleaner technologies (Ma et al, 2022;Xiang et al, 2022). Additionally, businesses may be hesitant to replace non-sustainable products with sustainable ones because they struggle to see how sustainable products can provide a stronger competitive advantage (Skobelev et al, 2023). However, there is growing interest and receptiveness among customers toward sustainable innovations, indicating a potential market for sustainable products (Zibunas et al, 2022).…”

Efficiency of Low-Carbon Technologies Implementation at Non-Ferrous Metallurgy Enterprises under the Conditions of Carbon-Regulation Development in Russia

“…Due to the ratification of the Paris Agreement, companies, government agencies, society and scientific experts have shown great interest in the problems of greenhouse gas emissions, as well as in the development of technologies to reduce them [1]. A variety of initiatives to decarbonize operations are being implemented at the level of individual companies, but the cumulative effect of ongoing environmental projects is still insufficient to achieve global climate goals.…”