Value chains for carbon storage and enhanced oil recovery: optimal investment under uncertainty

被引:12
作者
Fleten, Stein-Erik [1 ]
Lien, Kristin [1 ]
Ljones, Kristin [1 ]
Pages-Bernaus, Adela [1 ]
Aaberg, Marte [1 ]
机构
[1] Norwegian Univ Sci & Technol, Dept Ind Econ & Technol Management, Trondheim, Norway
来源
ENERGY SYSTEMS-OPTIMIZATION MODELING SIMULATION AND ECONOMIC ASPECTS | 2010年 / 1卷 / 04期
关键词
CO2 value chain; Carbon capture and storage; Enhanced oil recovery; Dynamic programming; Greenhouse gas abatement; Energy price uncertainty;
D O I
10.1007/s12667-010-0019-0
中图分类号
TE [石油、天然气工业]; TK [能源与动力工程];
学科分类号
0807 ; 0820 ;
摘要
Carbon capture and sequestration is a possible technology for abating carbon dioxide emissions. This is costly and requires investment in capture, transportation and storage facilities, and compensation for possibly substantial operational cost at these facilities. On the other hand, this option avoids buying carbon offsets, and the CO2 may in some cases be used for enhanced oil recovery. Stochastic dynamic programming is applied to perform the underlying investment analysis, that is, to decide whether investment on a CO2 value chain is profitable, and if so, then when the decisions should be taken. The oil and CO2 prices are modelled as stochastic processes. As a case study we consider possible CO2 value chain investments on the Norwegian Continental Shelf.
引用
收藏
页码:457 / 470
页数:14
相关论文
共 16 条
[1]   European CO2 prices and carbon capture investments [J].
Abadie, Luis M. ;
Chamorro, Jose M. .
ENERGY ECONOMICS, 2008, 30 (06) :2992-3015
[2]  
[Anonymous], 2008, EU EM TRAD SCHEM
[3]  
CEC, 2008, 20 20 2020 EUR CLIM
[4]  
Commission Staff Working Document, 2008, TECHNICAL REPORT
[5]  
Dixit R. K., 2012, INVESTMENT UNCERTAIN, DOI DOI 10.1515/9781400830176
[6]   Investment under market and climate policy uncertainty [J].
Fuss, Sabine ;
Szolgayova, Jana ;
Obersteiner, Michael ;
Gusti, Mykola .
APPLIED ENERGY, 2008, 85 (08) :708-721
[7]   CO2 sequestration through enhanced oil recovery in a mature oil field [J].
Gaspar Ravagnani, A. T. F. S. ;
Ligero, E. L. ;
Suslick, S. B. .
JOURNAL OF PETROLEUM SCIENCE AND ENGINEERING, 2009, 65 (3-4) :129-138
[8]   Real options analysis of investment in carbon capture and sequestration technology [J].
Heydari, Somayeh ;
Ovenden, Nick ;
Siddiqui, Afzal .
COMPUTATIONAL MANAGEMENT SCIENCE, 2012, 9 (01) :109-138
[9]  
Holt T., 2004, TECHNICAL REPORT
[10]  
Hull J. C., 2008, OPTIONS FUTURES OTHE