You are welcome to the Department of Economics and Finance research seminar "Techno-economic assessment of CO2 capture possibilities in shale oil production". The seminar will take place on 12 May, at 16:00 - 17:00 on MS Teams (link).
Presenter: Professor Aaro Hazak (TalTech).
Abstract: CO2 capture possibilities in the carbon intensive shale oil production have received limited attention in literature. We present techno-economic assessment of potential CO2 capture with post-combustion technology, and where relevant with oxy-fuel combustion technology, for existing key shale oil production facilities in Estonia – one of the largest shale oil producers globally, and a unique country for its large industrial use of oil shale as a fossil resource. Our results show that oxy-fuel combustion would slightly outperform post-combustion capture in shale oil production with the Enefit-280 technology. Post-combustion capture would be the primary solution for the Petroter shale oil production technology. Our economic analysis based on futures prices of low sulfur fuel oil, as a traded commodity comparable to shale oil, and CO2 European Emission Allowances prices in the EU Emissions Trading System reveals that without CO2 capture shale oil is envisaged to remain competitive on the export market in some sub-periods, but several uncertainties may undermine the outlook. CO2 capture and storage, adding costs of at least 135 euros per tonne of shale oil, would however not be currently feasible, remaining inferior to incurring the CO2 emission allowance fees and environmental charges
Authors: Artjom Saia1, Dmitri Neshumayev1, Aaro Hazak1, Priit Sander2, Markus Somp1, Oliver Järvik1, Alar Konist1
1 Tallinn University of Technology
2 University of Tartu
The public research seminars of the Department of Economics and Finance (DEF) at Tallinn University of Technology usually take place on the second and fourth Wednesdays of the month in both onsite and online format, unless announced otherwise. The presentation will last approximately 45 minutes followed by 15 minutes of discussion. The seminars are held in English. Copies of the paper are usually made available at the seminar. The DEF seminar series is organised in collaboration with the project ”Individual Behaviour and Economic Performance: Methodological Challenges and Institutional Context” (IBEP), which has received funding from the European Union’s Horizon 2020 Research and Innovation programme under Grant Agreement No 952574. Questions about the seminar can be sent to the IBEP seminar coordinator Rachatar Nilavongse, email@example.com.