Validation and Comparison of Carbon Sequestration Project Cost Models with Project Cost Data Obtained from the Southwest Partnership
Obtaining formal quotes and engineering conceptual designs for carbon dioxide (CO{sub 2}) sequestration sites and facilities is costly and time-consuming. Frequently, when looking at potential locations, managers, engineers and scientists are confronted with multiple options, but do not have the expertise or the information required to quickly obtain a general estimate of what the costs will be without employing an engineering firm. Several models for carbon compression, transport and/or injection have been published that are designed to aid in determining the cost of sequestration projects. A number of these models are used in this study, including models by J. Ogden, MIT's Carbon Capture and Sequestration Technologies Program Model, the Environmental Protection Agency and others. This report uses the information and data available from several projects either completed, in progress, or conceptualized by the Southwest Regional Carbon Sequestration Partnership on Carbon Sequestration (SWP) to determine the best approach to estimate a project's cost. The data presented highlights calculated versus actual costs. This data is compared to the results obtained by applying several models for each of the individual projects with actual cost. It also offers methods to systematically apply the models to future projects of a similar scale. Last, the cost risks associated with a project of this scope are discussed, along with ways that have been and could be used to mitigate these risks.
- Research Organization:
- New Mexico Institute of Mining and Technology, Socorro, NM (United States)
- Sponsoring Organization:
- USDOE
- DOE Contract Number:
- FC26-05NT42591
- OSTI ID:
- 1025540
- Country of Publication:
- United States
- Language:
- English
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