Concurrent 8. Presentation for: Create a new carbon capture and storage (CCS) industry – unlock Australian CO2 storage by using CO2 carriers for transport and floating CCS hub facilities
Daein Cha A *A deepC Store Limited, Perth, WA, Australia.
The APPEA Journal 62 - https://doi.org/10.1071/AJ21327
Published: 3 June 2022
Abstract
Presented on Tuesday 17 May: Session 8
Carbon capture and storage (CCS) is central to a clean energy transition. According to the UN’s IPCC and IEA, CCS needs to attain a global CO2 reduction capacity of ~4 billion tonnes per annum by 2050 to achieve Paris Agreement targets. To date, only 27 large-scale CCS facilities are operating worldwide, totalling 36.6 million tonnes per annum of CO2 reduction. Massive number of new projects are needed. Australia has a potential CO2 storage capacity of 434 billion tonnes, with 316 billion tonnes (73%) residing in offshore oil and gas fields and aquifers. A key constraint to unlock this potential is that the CO2 storage sites and emitter sources are not necessarily located close by. Since CCS projects considered to date in Australia use pipeline transportation, this limits the number of developments to those that have the emission sources and storage sites in proximity. By utilising the Floating CCS Hub development concept, which includes CO2 carriers and floating CCS hub facilities, CCS can be provided to a broader range of emission sources. The transportation cost using CO2 carriers is not as sensitive to transport distance as pipelines, which have a linear relationship between distance and cost. In addition, the CO2 carriers costs are reducing substantially as technology allows for CO2 to be transported in lower pressure states enabling larger parcel sizes, and manufacturing efficiencies further reducing costs. CO2 carriers and CCS hub facilities minimise development constraints related to pipeline distances and land use, and enable replicability and scalability for multiple CCS projects.
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Keywords: carbon capture and storage, carbon capture and storage APAC, carbon capture and storage Asia Pacific, carbon capture and storage Australia, CCS, CCS APAC, CCS Asia Pacific, CCS Australia, CO2 carriers, Floating CCS Hub.
Daein Cha with over 20 years of oil and gas (O&G) and liquefied natural gas (LNG) industry experience combined with extensive for-profit and non-profit venture start up and management experience, Daein specialises in small- and big-scale energy business development, major capital project management, commodity sales and trading, and entrepreneurship. Daein joined Tokyo Gas Co., Ltd in 1998 and has since served roles of increasing responsibilities including Manager of LNG procurement and trading, and Manager of LNG upstream business development. Daein joined Chevron Australia (Chevron) in 2012 as Deputy Business Manager and in 2014 as Deputy Project Manager for the Gorgon Expansion Project. He also served on the Project Leadership Team to manage the development of Chevron’s Gorgon Stage 2 and Jansz-Io Compression projects. Daein has taken on the role as the Founder and Director of Transborders Energy since November 2016, and as Founder, Managing Director and CEO of deepC Store since August 2021. Daein received his Bachelor’s degree in Management from the International Christian University (Japan), Masters in Business Administration (MBA) from the University of Virginia Darden Graduate School of Business Administration (USA), and qualification as Certified Cost Professional (CCP) of AACE International accredited by the Council of Engineering and Scientific Speciality Boards. Daein is also a member of the Association of International Petroleum Negotiators (AIPN). |
