CARBON CAPTURE, UTILIZATION AND STORAGE SYSTEM (CCUS)
Carbon Neutral Solution for Marine
Carbon capture and storage (CCS) is a set of technologies aimed at capturing, transporting, and storing CO2 emitted from power plants and industrial facilities.
The goal of CCS is to prevent CO2 from reaching the atmosphere, by storing it in suitable underground geological formations.
Because a significant amount of power generation and industry will continue to rely on fossil fuels also in the future, the use of CCS is important to help reduce greenhouse gas emissions.
CCS development in the EU
Even with supportive EU regulations and co-funding opportunities provided through the European Energy Programme for Recovery and NER300, carbon capture and storage have failed to develop at the expected rate.
In 2013, the European Commission launched a public consultation to examine the state of play for CCS and invited views on how to encourage its development in the future.
The consultation summary states that:
- while more than 20 small-scale demonstration CCS projects are operating globally, none of these are in the EU
- at current low carbon prices, companies do not see an economic rationale to invest in CCS
- a first generation CCS power plant is expected to be 60% to 100% more expensive than a similar conventional plant
- the cost of CCS is expected to decrease in the long-run as a result of research and development activities, and the building of economies of scale.
Assessing the CO2 storage potential in Europe
The Commission funded project ‘CO2StoP’(2012-2013) created a database of locations and capacities of underground geological formations in Europe that could be used to store CO 2. It also created a tool to recalculate the accessible CO2 storage resource in Europe – the amount of CO 2 that could theoretically be stored at these sites - and assessed the chances of successful storage at each site.
The CO2StoP tool can calculate the fraction of the theoretical storage capacity that can be accessed using all currently available technologies regardless of cost, producing estimates very similar to the Technically Accessible CO2 Storage Resource (TASR) used by the US Geological Survey.
The Commission study (April, 2015) summarises the results of the CO2Stop project.
The aim of the Paris Agreement is to reduce the impacts of climate change by keeping the global temperature rise below 2℃ above pre-industrial levels. To that end, the agreement requires a rapid reduction of greenhouse gas emissions. The aim of Carbon Capture, Utilization and Storage (CCUS) is to limit the impacts of climate change by capturing carbon dioxide, and the captured CO2 is used for commercial applications. CCUS is predicted to contribute to 19% of the total CO2 emission reductions globally by 2050. Without CCUS, the cost of reducing emissions would increase by more than 70%. In other words, CCUS will play a pivotal role in reducing CO2 emissions.
Panasia : We are heading to the future with eco-friendly solutions PANASIA is a green energy solution provider that leads the way in building a future in which humans and nature coexist. At PANASIA, we are continuously working to take risks and develop technologies powered by nature based on the standards of nature across various areas, from the air environment to the water environment, and to our hydrogen business. We offer high-quality ICT-based products by adopting our unique “SMART PANASIA” system, which encompasses all processes from product planning to design, production, and to services, and allows our technologies to learn and evolve on their own. With its core technologies and years of experience, PANASIA has become a global leader that uses its technology to respond to demands in various environmental areas.
PANASIA’s Pan-CCUS™ The Carbon Capture, Utilization and Storage system for ships is a system that captures and utilizes carbon dioxide generated during combustion of fossil fuel used to propel and generate power for ships and reforming to produce hydrogen, in order to reduce the amount of CO2 released into the air.
PANASIA’s PANAGEN Hydrogen Generation System Hydrogen is generated from fuels such as natural gas and ammonia through hydrogen reforming process, and the hydrogen energy supplies power to ships through fuel cells and ESS(Energy Storage Systems). This will replace or support conventional main and generator engines of the ships to meet stricter environmental regulations.
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