In the quest to reduce the carbon footprint of industrial enterprises, a groundbreaking study led by Dmitry Klimov from the Peoples’ Friendship University of Russia (RUDN) has shed light on the economic viability of capturing flue gas and carbon dioxide (CO2) from energy facilities. The research, published in E3S Web of Conferences, delves into the production costs and value of these capture processes, highlighting their potential as a key component in enhanced oil recovery (EOR) methods.
Klimov’s analysis underscores the significance of using CO2 in EOR, a technique that injects CO2 into oil reservoirs to increase pressure and improve oil extraction. “The use of CO2 in EOR not only enhances oil recovery but also provides a sustainable solution for reducing industrial carbon emissions,” Klimov explains. This dual benefit makes CO2 capture a compelling option for energy companies looking to balance profitability with environmental responsibility.
The study meticulously evaluates the economic aspects of CO2 capture technologies, considering factors such as cost, energy consumption, and various process variables. Klimov emphasizes the importance of standardizing methodologies for estimating decarbonization costs, as this will enable more accurate comparisons and informed decision-making. “Standardization is crucial for understanding the true economic impact of these technologies,” he notes. “It helps in identifying the most cost-effective solutions and in reducing uncertainties in techno-economic indicators.”
One of the standout findings is the estimation of CO2 avoidance costs across different industries. This metric provides a clear economic indicator of technological efficiency, helping industries prioritize decarbonization measures. For instance, sectors with high CO2 avoidance costs may benefit more from investing in capture technologies, as the long-term savings and environmental benefits could outweigh the initial investment.
The research also highlights the need to account for uncertainties in techno-economic indicators. This approach ensures a comprehensive analysis of different technologies and their impact on production processes. By doing so, energy companies can make more informed decisions about implementing CO2 capture technologies, balancing the need for cost-effectiveness with environmental sustainability.
Klimov’s work is poised to shape future developments in the energy sector by providing a robust framework for evaluating CO2 capture technologies. As the global push for decarbonization intensifies, this research offers valuable insights into how energy companies can reduce their carbon footprint while maintaining profitability. The findings published in E3S Web of Conferences (formerly known as the International Conference on Environmental, Energy, and Sustainable Development) are a significant step forward in this direction, offering a roadmap for sustainable energy practices.
