Measurement, reporting and verification and accounting for carbon dioxide removal in the context of both project-based approaches and national greenhouse gas inventories
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Jonathan Royer-Adnot, Gilles Munier, Yann Le Gallo, Anthony Lecomte, Cameron McQuale
Citation: IEAGHG, "Global Storage Resources Gap Analysis for Policy Makers", 2011-10, October 2011.
The IEA Greenhouse Gas R&D Programme (IEAGHG), on behalf of the Global CCS Institute, commissioned Geogreen to undertake a study reviewing the current global portfolio of operational and announced CO2 geological storage projects, in the context of key CCS deployment targets for 2020: 20 operational sites stipulated by the G8; and 100 operational sites as described in the 2009 IEA CCS Roadmap ‘Blue’ scenario (limiting atmospheric CO2 concentrations to 450ppm). The Geogreen study included detailed modelling of the timescales and resources required for storage sites to achieve bankable status, whereby final investment decisions can be made in advance of site construction, commissioning and operations. Building on this analysis, the study showed that the current CCS project portfolio could allow the G8 target to be reached provided that adequate resources are made available for a large proportion of the proposed projects and that storage associated with CO₂-EOR can be included.
The analysis showed that the current operational/announced global CCS project portfolio has the potential to achieve the G8 target of 20 operational projects by 2020, provided adequate funding for all projects is available and particularly if CO₂-EOR projects are included. Conversely, the 2009 IEA CCS Roadmap target of 100 operational sites by 2020 (‘Blue’ scenario, charting progress required for stabilisation of atmospheric CO2 at 450ppm) is extremely unlikely to be achieved without a large number of additional and immediate project announcements; the current portfolio of announced global projects is more likely to deliver approximately 50 operational projects by 2025, given adequate funding. A more realistic target date for 100 operational projects of 2028 could be achieved, aided by the inclusion of CO₂-EOR projects and again notwithstanding financial and other non-technical issues. The gap between current efforts and deployment targets is most marked in non-OECD countries.
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