CCUS technology competitiveness analysis: technology readiness level and economics

Purpose of the article. Review the technical and economic parameters of CCUS technologies and identify the most attractive market niches for them.

Materials and methods. An analysis of the CCUS value chain was carried out from the standpoint of the level of TRL. Further, in the most developed segments, the cost levels for each segment of the technological chain were analysed.

Results. An analysis of TRL of CCUS technologies showed that, as of 2021, most of these technologies are at the demonstration stage or at the stage of a large prototype.

Cost analyses across the entire CCUS value chain show wide variability among the literature reviewed and identify the CO₂ capture stage as the most expensive stage in the CCUS value chain. It demonstrates an impressive range of CO₂ costs, currently ranging from $20 to $450/tCO₂. Note the lack of data on specific capture processes and technologies.

Conclusion. In 2020, the average CO₂ price was less than $10/tCO₂, however, in a number of countries, such as Switzerland, Finland, Sweden, Norway, Canada, France and Korea, the CO₂ price already today allows some CCUS projects to reach profitability threshold. The analysis of technologies carried out by the authors at the TRL 9-11 also shows that there are already certain industries in which CCUS technologies can help in decarbonisation, and for some of these industries (for example, natural gas processing and fertilizer production), the costs of throughout the value chain start at $20-25 per ton.

The most promising areas at the moment are the application of CCUS in the chemical industry, ferrous metallurgy, natural gas production and coal-fired power plants. Note that ferrous metallurgy and the chemical industry are the sectors where it is most difficult to apply any alternative methods of deep decarbonisation.

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