Transcribed
Change in fossil fuel cumultative gross revenues by tpe and region if CCS is delayed
Figure 2.21 - Change in fossil fuel cumulative gross revenues by type and region if CCS is delayed, relative to the 450 Scenario OECD Non-OECD Oil Gas Coal -700 -600 -500 400 -300 -200 -100 Billion dollars (2011)
Change in fossil fuel cumultative gross revenues by tpe and region if CCS is delayed
shared by W.E.R.I on Jul 11
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CCS can not only safeguard otherwise stranded assets in power generation and industry,
but also has a value for fossil-fuel producers. To achieve climate targets, CCS would mainly
be applied to coal...
- and gas-fired power plants and in the iron and steel, and cement
industries, which largely consume coal. If the introduction of CCS in power generation
and industry is significantly delayed, coal consumption must decrease correspondingly
if climate targets were to be met: while coal consumption would decline from around
5 200 million tonnes of coal equivalent (Mtce) today to 3 300 Mtce in 2035 if CCS was
introduced on a large scale by 2020, it would be reduced by another 900 Mtce if the
introduction of CCS was delayed by ten years.
Oil and gas producers would also be affected by delayed introduction of CCS. Although gas
consumption would still increase over today's level, growth would be slower without the
application of CCS to gas-fired power plants. For oil producers, the effect of delaying CCS
would be indirect: in order to keep cumulative CO2 emissions the same in the absence of
CCS, the transport sector would need to compensate by reducing emissions further through
wider deployment of electric vehicles. This could reduce oil consumption by around
1.3 million barrels per day in 2035, compared with introduction of CCS by 2020. Overall, if
the introduction of CCS was delayed until 2030, then coal producing countries would lose
revenues of $690 billion, gas producers would lose $430 billion and oil producers about
$230 billion (Figure 2.21). The combined loss of revenue for oil and gas producers is roughly
equal to that of coal producers.
Source : Carbon Capture and Storage (CCS)
http://www.ccsassociation.org/what-is-ccs/
Source
http://www.c...at-is-ccs/Category
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