For industries involving large amounts of CO2 emissions such as electricity, chemicals and steel, the carbon tax that may be imposed in the future will have a huge impact on the profitability of enterprises. Therefore, it is necessary to invest and apply carbon emission reduction technologies quickly. CO2 capture and storage (CCS) is an industry-recognized viable option. With the continuous reduction of renewable energy costs and the development of high-efficiency advanced electrolyzed water technology, zero-carbon hydrogen production is gradually becoming economical. The production of high-value chemicals with zero carbon emissions of hydrogen and CO2 is expected to become an important way to reduce CO2 emissions.
According to Paris Agreement, which came into effect in 2016, the goal of controlling global warming to within 2℃ in this century, requires effective control of CO2 emissions. Accordingly, the share of renewable energy will need to increase significantly from 23% in 2015 to 68% in 2050. At the same time, it is necessary to actively develop CCS. As of July 2019, 18 large-scale CCS projects have been put into operation worldwide, capturing approximately 33 million tons of CO2 per year. By 2040, about 2,500 CCS facilities will be officially put into operation worldwide, and the total amount of carbon dioxide captured and stored each year will be close to 4 billion tons.
ASIACHEM Consulting believes that through sustained technological research and development, the development of low-cost and efficient CO2 capture, enrichment and transport technology, reliable storage technology, as well as commercially valuable downstream utilization technology, is essential to achieve these carbon reduction goals. CO2 enhance oil recovery (EOR) technology is an acknowledged method for enhancing oil recovery at late stage of oilfield development. PetroChina, Sinopec and Yanchang Petroleum Group have carried out the application of CO2-EOR to enhance oil recovery. Xinjiang Dunhua 100,000 tons/year CO2 capture project using PSA relaxation gas from a methanol plant was commissioned in 2016. The captured CO2 was used for heavy oil recovery in Karamay oilfield.
In recent years, Chinese enterprises and scientific research institutes have made a series of progress in the CO2 to high-value chemicals such as methanol, olefins, aromatic hydrocarbons, gasoline, formic acid, DMF, CO2 and methane reforming to syngas, and CO2 to degradable plastics, and are implementing industrialization. Applying the technology of DICP CAS, the first liquid solar fuel synthesis demonstration project in Lanzhou New District will produce hydrogen from photovoltaic power generation electrolysis water and CO2 hydrogenate to produce 1,000 tons methanol per year. It is expected to be put into operation in 2019.
CCS & CO2 to High Value Chemicals 2019 will be held on 17 December in China. The conference will discuss China's carbon tax policy outlook in the context of Paris Agreement, low-cost and high-efficiency CO2 capture, enrichment and transportation technologies, CCUS demonstration of large coal chemical, power plants and petrochemical plants and CO2-EOR for enhanced oil recovery experience, CO2 to methanol, olefins, aromatics, gasoline, formic acid, DMF and degradable plastics and other high-value chemicals technology and demonstration progress, food-grade carbon dioxide market research.
1. Vision and implementation path of global warming control within 2℃
2. Prospects for China's carbon tax policy in the context of the Paris Agreement
3. Low cost and efficient CO2 capture, enrichment and transportation technologies
4. CCUS project experience of global and China’s energy and chemical giants
5. CO2-EOR demonstration experience and application practice of enhancing oil recovery
6. CO2 hydrogenation to high value chemicals - methanol, olefins, aromatics, formic acid and DMF
7. CO2 hydrogenation to liquid fuels – ethanol, gasoline or polyalcohol
8. CO2 and methane reforming to synthesis gas (CO+H2)
9. CO2 to degradable plastic technology and industrial demonstration experience
10. Food grade carbon dioxide market research
11. Renewable energy zero carbon emission hydrogen production technology and economic analysis
12. Combined application of large-scale hydrogen production of fossil raw materials and CCS