Hot off the press - here's our 75th issue of The Carbon Corner!
From the bustling coastlines of Norway to the shores of Brazil, companies like Northern Lights and ArcelorMittal are spearheading transformative projects aimed at mitigating carbon emissions and ushering in a new era of environmental stewardship. Read about these initiatives and more below!
Unlocking Climate Solutions: Innovative Approach Combines CO2 Capture and Geothermal Technologies
Researchers at Ohio State University have proposed a groundbreaking method for developing a climate-benign system, termed Direct Air CO2 Capture, Utilization, and Storage (DACCUS), which combines direct air CO2 capture technologies with CO2 Plume Geothermal.
The study, authored by Martina Leveni and Jeffrey M. Bielicki and published in Environmental Research Letters, outlines a strategy for utilizing geologic CO2 in a deep aquifer with sufficient geothermal heat flux, known as Sedimentary Basin CO2-driven Geothermal Utilization (SB-CO2DGU) or CO2 Plume Geothermal.
This system extracts heat from CO2 brought to the surface, either for regenerating the solid sorbent of the DACC process or for generating electricity. The study suggests deploying this system in the U.S. Gulf Coast region due to the presence of CO2 point sources, suitable reservoirs for CO2 storage, and adequate geothermal conditions. By combining sustainable technologies, such as direct air CO2 capture and CO2 Plume Geothermal, this innovative approach offers a promising solution for large-scale CO2 storage and capture while potentially transforming energy systems.
Securing the Future: Santos Secures Funding for Moomba Carbon Capture Project
Santos Ltd. has successfully secured funding totaling $150 million for its share of the Moomba carbon capture and storage (CCS) project in South Australia, which has a total cost of $220 million. The financing, obtained with a five-year tenor, will cover project costs incurred to date and support ongoing progress until the first injection, expected by mid-2024.
Santos CEO Kevin Gallagher emphasized the importance of CCS in achieving global net-zero goals and highlighted the project's role in reducing emissions associated with natural gas. The Moomba CCS project, now 80% complete, aims for competitive storage costs and will have the capacity to store up to 1.7 million metric tons of CO2 annually. Additionally, Santos is exploring opportunities to expand the project, transforming the Cooper Basin into a decarbonization hub and evaluating partnerships with Japanese companies for potential CO2 importation.
Harnessing Geothermal Energy: A Breakthrough Approach to Carbon Capture and Storage
A groundbreaking study explores the integration of geothermal energy and direct air carbon dioxide capture (DACC) technologies to combat climate change. Published in Environmental Research Letters, researchers unveil a method, known as Direct Air CO2 Capture with CO2 Utilization and Storage (DACCUS), which harnesses geothermal energy to power large-scale carbon dioxide removal systems.
Led by Martina Leveni of The Ohio State University, the study proposes a climate-benign approach that efficiently captures and stores CO2 underground using natural heat from deep saline aquifers. By synergizing technologies, this innovative system offers a promising solution to mitigate climate change impacts.
Fostering a Low-Carbon Future: ArcelorMittal Brasil and Petrobras Join Forces for Environmental Sustainability
ArcelorMittal Brasil, a subsidiary of the renowned steel giant, ArcelorMittal, has embarked on a groundbreaking journey towards environmental sustainability through a strategic partnership with Petrobras, a leading Brazilian oil and gas producer. This memorandum of understanding (MoU) signifies a shared commitment to exploring business models within the low-carbon economy, focusing on areas like low-carbon fuels, hydrogen, renewable energy production, and carbon capture and storage (CCS).
The collaboration aims to establish a carbon capture and storage hub in Espírito Santo, emphasizing both technical and economic viability while aligning with ArcelorMittal's global ambition for carbon neutrality by 2050.
Northern Lights: Pioneering CO2 Storage for Europe's Industrial Decarbonization
The Northern Lights project along the Norwegian coast marks a pioneering effort in providing European industrial companies with a solution for the safe and permanent storage of their CO2 emissions deep under the seabed, with Phase 1 installations set to be operational from 2024, capable of handling 1.5 million tons of CO2 annually.
This ambitious project, slated to extend to 5 million tons by 2026, represents a significant step in Europe's heavy industry decarbonization journey. Spearheaded by TotalEnergies, Equinor, and Shell, the project has garnered approval from both the Norwegian government and the European Union, positioning it as a vital infrastructure for reducing CO2 emissions. With the recent completion of drilling operations and the commencement of construction for future vessels, the Northern Lights facility is on track to commence carbon capture and storage operations in 2024, offering a reliable service to industrial emitters across Europe. The project has already secured commercial agreements, with Yara signing on to decarbonize its operations starting in 2025, showcasing a promising start to widespread CO2 emission reduction efforts in the region.
Schaper Energy Consulting is a professional engineering firm offering carbon strategy services to CCS site developers. Check out some examples of our projects here: https://schaperintl.com/carbon-strategies/
If you have questions or comments, please contact us at info@schaperintl.com.
We hope you enjoyed reading this week and hope to see you back next week for more!