3/14/2024 0 Comments Southern company carbon capture![]() ![]() It also plans to invest over 100 billion won (US$89.5 million) annually for the development of the technology from 2023. ![]() The Ministry of Science and ICT said carbon capture and utilization technology remains in early stages of development and that it will support the local industry's research in the technology and commercialize 14 products based on the technology within the next decade. In December last year, the country pledged to become carbon neutral by 2050 in line with global efforts to reduce greenhouse emissions and combat climate change.Ĭarbon capture and utilization is a key technology to recycle carbon emissions by capturing carbon dioxide and converting it into other products, such as methanol. Today’s investments in integrated gasification with the potential for carbon capture and sequestration could therefore bear fruit later on.SEOUL, June 15 (Yonhap) - South Korea's science ministry unveiled Tuesday details of its goals to go carbon neutral by commercializing 14 carbon capture and utilization products by 2030. But if you see a huge run-up in natural gas, it may make sense then.”Īt some point, though, natural gas prices will spike and prompt utilities and their customers to look for clean, abundant and reliable fuels. “It makes absolutely no sense to take coal and make synthetic natural gas out of it,” Paul Grimmer, chief executive of Eltron Research in Boulder, Colo., told this writer earlier. ![]() In that regard, natural gas is too cheap right now. It’s quite another for smaller power companies to take the risk. and Duke Energy to endeavor into this unchartered area. So, is the cost of building plants that can gasify coal and other carbon-based fuels worth it? It’s one thing for the deep-pocketed utilities like Southern Co. In the United States, for example, a bill is pending that would increase the federal tax credit for capturing and sequestering CO2 from $20 a ton to $50 a ton - something Trump could try and champion on the global stage. Those technologies could then be shared with coal-dependent developing countries. If coal is going to advance in the developed world, integrated gasification along with carbon capture and sequestration would be the vehicles to facilitate that. And while those rules do inhibit the use of carbon-heavy coal, the utilities that generate electricity say that cheap natural gas and customer demand for cleaner fuels like wind and solar are driving their business decisions. President Trump, of course, has expressed his unconditional support for the coal sector and has vowed to eliminate or reduce the regulations the industry faces. Any withdrawal would require a few years advanced notice. That view, however, is opposed by Secretary of State Rex Tillerson, Energy Secretary Rick Perry and presidential advisor Jared Kushner. Those discussions aim to keep temperatures from rising more than 2 degrees Celsius from where they were at the start of the industrial revolution.īut the latest news accounts indicate that the president might be leaning against continued participation - a position led by his administrator to the Environmental Protection Agency, Scott Pruitt. Interestingly, the World Coal Association along with some of the major coal producers in the United States - Peabody Energy, Arch Coal and Cloud Peak Energy - are asking the Trump administration to remain involved in the global climate talks. “Without widespread deployment of carbon capture technologies, we will simply fail to meet global mid-century goals for mitigating carbon emissions from electric power generation and a wide range of industrial activities,” says a February 2016 letter signed by multiple interest that include Occidental Petroleum Corp., Arch Coal and the Natural Resources Defense Council. And while it has not yet shown it can bury the CO2, Duke says that it is still much cleaner and more efficient than other coal plants, with 70% fewer emissions tied to sulfur dioxide, nitrogen oxide and particulate matter. Duke Energy’s 618 megawatt Edwardsport project is the second such active project that can gasify coal. ![]()
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