Le Lézard
Classified in: Oil industry
Subject: PDT

Fuel From the Air Technology Provides a Path to New Business for OPEC Countries - Lappeenranta University of Technology (LUT), Finland



HELSINKI, May 24, 2017 /PRNewswire/ -- OPEC's current fossil business will become obsolete in upcoming decades, but oil and gas related products are still needed in a climate neutral world. The Paris Agreement requires a transition to a net zero emission world within a few decades. This means a full phase out of all fossil fuels. Yet, hydrocarbons are still necessary for sectors such as marine and aviation, as well as the chemical industry.

As OPEC countries face having to leave their oil and gas in the ground, in order to ensure their economic success in the future, OPEC needs to look for new ways of producing fuels. Investing in Power-to-Liquid technology could be the answer.

Neo-Carbon Energy: Synthetic fuels from the air

The Neo-Carbon Energy research project and technology from the Lappeenranta University of Technology (LUT) and VTT Technical Research Centre of Finland Ltd enable the production of synthetic fuels straight from the air.

The solution is built on carbon dioxide capture, water electrolysis and subsequent synthesis units such as methanation for methane and Fischer-Tropsch for liquid fuels. It depends on very low cost renewable electricity based on wind and solar, and produces synthetic fuels in a carbon neutral way. This could lead to a whole new circular carbon economy.

The cost estimates for producing liquid fuels with the solution are around $140/bbl (0.80 ?/l) between 2030 and 2040, if produced in the Maghreb region. Such prices were reached for crude oil in 2008. The cost could be even less in the future, due to declining solar PV and battery costs. The potential production volumes are practically unlimited, since the Earth receives more than 1000 times more energy from the sun than it is used globally for all energy needs today. It is likely that Power-to-Fuels and Chemicals technology will gain increasing importance between 2030 to 2040.

"A net zero emission economy without this technology is practically impossible," emphasizes Christian Breyer, professor for solar economy at LUT.

The raw materials needed in the process are carbon dioxide and water, with CO2 separated from the air. Hydrogen is generated from water by means of electrolysis. Electricity consumed in the electrolysis is supplied from renewables. Finally, CO2 and hydrogen are combined to form hydrocarbons in a synthesis reactor operated at high pressure and temperature. A future improvement might be to also use water from air, which is a byproduct of the CO2 separation from air.

"All technologies are known, most of them for decades", says Pasi Vainikka, Principal Scientist from VTT.

OPEC regions excellent for production

Neo-Carbon Energy is feasible in areas where renewable electricity is available at a low cost. Research shows that the most cost-efficient sites for producing hydrocarbons from the air are regions with abundant solar and wind resources, such as Patagonia, the Maghreb, the Horn of Africa or Western Australia. The Middle East region is also well suited for production. The products are globally tradable as of today. Additionally, the liquids and chemicals need refining, which indicates parts of the existing global fossil oil value chain could remain after some restructuring. A new pilot plant will be opened in Finland in June.

The Neo-Carbon Energy Project will be featured in the EU Sustainable Energy Week program.

For more information, please contact:

Christian Breyer
Professor
Lappeenranta University of Technology
christian.breyer@lut.fi
Tel. +358-50-443-1929

Pasi Vainikka
Principal Scientist
VTT Technical Research Centre of Finland Ltd
pasi.vainikka@vtt.fi
Tel. +358-40-5825-987

Key research papers for further information:

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/lappeenranta-university-of-technology--lut--finland/r/fuel-from-the-air-technology-provides-a-path-to-new-business-for-opec-countries,c2272187

The following files are available for download:

http://news.cision.com/lappeenranta-university-of-technology--lut--finland/i/fig2-neo-carbon-opec,c2150291

Fig2 Neo-Carbon OPEC

http://news.cision.com/lappeenranta-university-of-technology--lut--finland/i/fig3-neo-carbon-opec-1,c2150292

Fig3 Neo-Carbon OPEC 1

http://news.cision.com/lappeenranta-university-of-technology--lut--finland/i/fig1-neo-carbon-opec-1,c2150293

Fig1 Neo-Carbon OPEC 1


These press releases may also interest you

at 16:35
Marathon Oil Corporation today announced encouraging early production results at an important four-well Middle Bakken pad in the Company's Ajax area of the Williston Basin in Dunn County, North Dakota. The four-well pad achieved an estimated average...

at 16:15
Powell Industries, Inc. , a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2018 fourth quarter and year ended September 30, 2018. Revenues for...

at 16:00
TORC Oil & Gas Ltd. ("TORC" or the "Company") is pleased to announce the Company's Board of Directors has approved an initial 2019 capital budget of $180 million. TORC's strategic objectives associated with the 2019 capital budget are consistent...

at 15:18
Thigpen Solutions LLC ("Thigpen Solutions") is pleased to announce the promotion of Preston McDonald to Vice President of Sales & Marketing. Preston McDonald joined Thigpen Energy in January 2012. After completing his...

at 14:30
Southern Company, the National Fish and Wildlife Foundation (NFWF) and other partners today announced $940,000 in grants to restore aquatic habitats and foster growth of freshwater species. The grants will support six projects benefitting at-risk...

at 14:29
Solar Integrated Roofing Corporation -- The Company is pleased to announce, due to the overwhelming response from our shareholders and interested parties, our first conference announcement has been rescheduled. An opportunity will me made available...




News published on 24 may 2017 at 04:57 and distributed by: