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Open AccessArticle

Techno-Economic Analysis of CO2 Capture Technologies in Offshore Natural Gas Field: Implications to Carbon Capture and Storage in Malaysia

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Department of Mechanical Engineering, Universiti Tenaga Nasional, Kajang 43000, Selangor, Malaysia
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PETRONAS Research Sdn Bhd, Kawasan Institusi Bangi, Kajang 43000, Selangor, Malaysia
3
School of Information, Systems and Modelling, Faculty of Engineering and IT, University of Technology Sydney, NSW 2007, Australia
*
Author to whom correspondence should be addressed.
Processes 2020, 8(3), 350; https://doi.org/10.3390/pr8030350
Received: 18 November 2019 / Revised: 8 December 2019 / Accepted: 15 December 2019 / Published: 19 March 2020
(This article belongs to the Special Issue Gas, Water and Solid Waste Treatment Technology)
Growing concern on global warming directly related to CO2 emissions is steering the implementation of carbon capture and storage (CCS). With Malaysia having an estimated 37 Tscfd (Trillion standard cubic feet) of natural gas remains undeveloped in CO2 containing natural gas fields, there is a need to assess the viability of CCS implementation. This study performs a techno-economic analysis for CCS at an offshore natural gas field in Malaysia. The framework includes a gas field model, revenue model, and cost model. A techno-economic spreadsheet consisting of Net Present Value (NPV), Payback Period (PBP), and Internal Rate of Return (IRR) is developed over the gas field’s production life of 15 years for four distinctive CO2 capture technologies, which are membrane, chemical absorption, physical absorption, and cryogenics. Results predict that physical absorption solvent (Selexol) as CO2 capture technology is most feasible with IRR of 15% and PBP of 7.94 years. The output from the techno-economic model and associated risks of the CCS project are quantified by employing sensitivity analysis (SA), which indicated that the project NPV is exceptionally sensitive to gas price. On this basis, the economic performance of the project is reliant on revenues from gas sales, which is dictated by gas market price uncertainties. View Full-Text
Keywords: CO2 capture; carbon capture and storage (CCS); offshore gas field; techno-economic analysis CO2 capture; carbon capture and storage (CCS); offshore gas field; techno-economic analysis
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Sukor, N.R.; Shamsuddin, A.H.; Mahlia, T.M.I.; Mat Isa, M.F. Techno-Economic Analysis of CO2 Capture Technologies in Offshore Natural Gas Field: Implications to Carbon Capture and Storage in Malaysia. Processes 2020, 8, 350.

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