Pittsburgh presentation 13-16 May 2013
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Transcript of Pittsburgh presentation 13-16 May 2013
![Page 1: Pittsburgh presentation 13-16 May 2013](https://reader033.fdocuments.in/reader033/viewer/2022060115/55784394d8b42a1f5b8b5210/html5/thumbnails/1.jpg)
Brad Page – CEO Twelfth Annual CCUS Conference, Pittsburgh, Pennsylvania 14 May 2013
What is being done, what isn’t, and what must be done to meet carbon reduction goals given current energy needs and economic reality
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Economic growth – IEA 2°C scenario
2 Source: International Energy Agency 2012
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Economic growth – IEA 2°C scenario
3 Source: International Energy Agency 2012
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Energy growth: drivers outside the OECD countries
Source: International Energy Agency 2012 4
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Potential emissions by current fossil fuel reserves
Source: International Energy Agency 2012 5
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Potential emissions by current fossil fuel reserves
Source: International Energy Agency 2012 6
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CCS and power – the role of the Americas
Source: International Energy Agency 2012
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Challenges to deployment: Costs
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Challenges to deployment: Revenue
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Challenges to deployment: limited carbon constraints
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Source: Energy Information Agency
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But CCS benefits from CO2-EOR
Enables CCS technology improvement and cost reduction.
Improves business case for demonstration and early mover projects through CO2 revenue.
Helps gain public and policymaker acceptance.
Builds and sustains a skilled CCS workforce.
Supports CO2 transportation network development where EOR is an option.
Improves prospects for worldwide deployment.
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CO2-EOR challenges
CO2-EOR as CCUS although important as an enabler for CCS, it is geographically and capacity limited in the long run. North America is fortunate to have the opportunity.
CO2 revenue currently alone will not bridge gap for high capture cost scenarios; more needs to be done to narrow the gap (technology, policy, market).
Gaps exists between geologic storage permitting and CO2-EOR regimes (Class 2 vs Class 6 in the US).
Low Natural Gas prices in North America driving shift to gas from coal, but eventually will need CCS on gas to meet global emissions reduction targets.
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CCS policy and funding support
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Source: Gallagher, K.S. and L.D. Anadon, DOE Budget Authority for Energy Research, Development, and Demonstration Database
Nth American reality / leadership / project successes
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North America large-scale integrated projects by asset lifecycle and year
Steady progress
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North America large-scale integrated projects by asset lifecycle and year
Steady progress
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Emissions from various fossil fuel-driven industries and energy consumption are high.
Countries with a particular interest – and participating in capacity development activities – include:
- Mexico – investigating CCS as part of its energy and climate change strategies
- Trinidad and Tobago – looking at CCS legal and regulatory issues
- Brazil – publishing a geological storage atlas.
Importance of Central and South America
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What needs to be done
Fuel switching and EOR not enough to meet targets.
Climate change legislation not progressing sufficiently.
Use of existing regulations may not be optimum to encourage CCS/CCUS.
Need to include CCS in the portfolio of clean technologies with equitable incentives and treatment - lowering cost of meeting reduction targets in the long run.
Funding for CCS demonstration projects should be accelerated and incentives increased from current base.
Encourage CCS capacity building in developing economies.
Opportunities emerging in Central and South America.
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