The Weyburn CO2 monitoring project : economic modelling of CO2 sequestration : provisional report on the Great Plains Synfuels Plant (the CO2 source)

Riley, Nick. 2002 The Weyburn CO2 monitoring project : economic modelling of CO2 sequestration : provisional report on the Great Plains Synfuels Plant (the CO2 source). Nottingham, UK, British Geological Survey, 24pp. (CR/02/019N) (Unpublished)

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Abstract/Summary

This report describes various aspects of the economics of a coal gasification plant. The Great Plains Synfuels Plant, N. Dakota, USA, which is the CO2 source for an enhanced oil recovery operation being conducted at the Weyburn Field in Canada. Significant factors in the economics of the plant are political support at national and regional level, government underwriting of loans and financing, tax credits favouring domestic energy production, close proximity to lignite feedstock at a stable & low price, sharing of site facilities with other power generators, a regional market for bi-products- particularly fertiliser, forging long term gas supply contracts, ability to maintain a reliable supply of syngas, successfully hedging on gas price futures against price volatility, and switching interruptible gas production to bi-product production when the market is favourable. Sales of CO2 to an oil company have only recently started, with sales of less than half the available CO2 production expected to bring in net revenue of $15-18m/annum over the next 15 years. Future success of the plant will depend on natural gas prices, development of further bi-products and the ability to sell the remaining CO2 to oil companies. The introduction of some form of carbon tax credit would also significantly enhance the plant's future viability.

Item Type:	Publication - Report
Programmes:	BGS Programmes > Other
Funders/Sponsors:	British Geological Survey, Department of Trade and Industry
Additional Information. Not used in RCUK Gateway to Research.:	This item has been internally reviewed, but not externally peer-reviewed.
Date made live:	26 Sep 2024 12:38 +0 (UTC)
URI:	https://nora.nerc.ac.uk/id/eprint/538087

Item Type:

Publication - Report

Programmes:

BGS Programmes > Other

Funders/Sponsors:

British Geological Survey, Department of Trade and Industry

Additional Information. Not used in RCUK Gateway to Research.:

This item has been internally reviewed, but not externally peer-reviewed.

Date made live:

26 Sep 2024 12:38 +0 (UTC)

URI:

https://nora.nerc.ac.uk/id/eprint/538087