A ranking by Bloomberg New Energy Finance reveals that the world’s most advanced large-scale demonstration carbon capture and storage (CCS) projects are held by sites in North America. The study, Race To First, is a semi-annual ranking of CCS projects. The study found that U.S. and Canadian projects benefit from more public funding, lower storage costs and more options for enhanced oil recovery than those elsewhere.
Eight of the 24 projects qualifying for the H1 2012 edition of Race To First will enter operation over the coming five years, Bloomberg New Energy Finance predicts. They will have an aggregate annual injection rate of 16.8 m metric tons of carbon dioxide a year (MtCO2/yr). Five will be in North America and three in Europe.
Pennsylvania‐based Air Products & Chemicals is the frontrunner in the H1 2012 Race To First, with its Port Arthur demonstration project in Texas. The project will capture 1 MtCO2/yr from two steam methane reformers at Texas‐based Valero Energy Corp.'s Port Arthur refinery. It will sell this carbon dioxide to Texas‐based Denbury Resources for use in enhanced oil recovery operations. The project has a capital cost of $431 million and is on track for full operation in Q1 2013.
In second place in the Race To First is a project at the Boundary Dam Power Plant in Saskatchewan, Canada, developed by state‐owned utility SaskPower. This is a government‐industry partnership worth $1.25bn and is expected to complete in early 2014.
To read the full report and details on the other projects, go to http://bnef.com/PressReleases/view/220.
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