Source-sink matching and cost analysis of offshore carbon capture, utilization, and storage in China

Abstract

Carbon Capture, Utilization, and Storage (CCUS) is an indispensable technology to achieve carbon neutrality in China, but confined by technology and economy, the offshore CCUS in China is still in the planning stage and has not yet reached the desired scale. Offshore source-sink matching and cost analysis of CCUS is the premise and basis of offshore CCUS deployment. Thus, based on the CO2 storage potential of offshore sedimentary basins in China, this paper conducts the offshore source-sink matching and cost analysis of CCUS in China under different constraints. The result showed that: ⅰ) the CO2 storage capacity of China's offshore sedimentary basins is estimated to be 767.3 Gt, which is enough to meet approximately 200 years of coal power CO2 emissions in China. ⅱ) the CO2 storage potential could reach 721.9 Mt/a by source-sink matching under different constraints. ⅲ) early opportunities for offshore CCUS would be in the Bohai Bay and Pearl River Mouth Basin, considering the compensation effect of CO2-EOR. ⅳ) combined with the CCUS cost and emission reduction in China under different time nodes, it is inferred that deploying offshore CCUS in China between 2030 and 2040 commercially will be advantageous.