• Geophysics and Geophysical Exploration
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• v.26 no.4
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• pp.157-170
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• 2023

In South Korea, carbon capture and storage (CCS) techniques have attracted considerable attention as part of efforts to achieve the 2030 Korean Nationally Determined Contribution. However, owing to delays in large-scale CCS projects in South Korea, interest in cross-border CCS projects, wherein CO₂ captured in South Korea is stored in overseas CCS facilities, has increased. In this study, we investigated the development status of the CarbonNet project in the Gippsland Basin, Australia. First, we provide a brief overview of sedimentary basins and CCS projects in Australia. Subsequently, we review the geological history of the Gippsland Basin, the site of the large-scale CCS project. Finally, we summarize the site selection process for the CarbonNet project and discuss the suitability of the Pelican site for large-scale CCS projects.

• Korean Journal of Construction Engineering and Management
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• v.24 no.6
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• pp.45-52
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• 2023

Recently, as climate change caused by greenhouse gases is intensifying, the international community has committed to reduce greenhouse gas emissions. The purpose of this study is to present the methodology and major considerations for investment judgment. Two actual cases of overseas projects were selected as study subjects. As an analysis method, the major risk factors were defined as a probability distribution, and the NPV was stochastically estimated using the Monte Carlo simulation method. In addition, assuming a policy change, the range of NPV change was analyzed. As a result, the average NPV of project A was lowered by 19%, and the probability of showing a negative NPV was 12.2%. The average value of project B was lowered by 12.5%. Considering the policy change, project A can obtain economic benefits only when it obtains 72.9% or more of the total amount of carbon credits generated, and project B is economically feasible when it acquires 49.5% or more. As a result, the average value of project A is lower than the net present value under basic assumptions, so caution is needed in investment decisions depending on changes in major risk factors. Additionally, considering policy changes, the carbon credit distribution ratio should be differentially applied depending on the project size, and this was presented as a specific figure.

• Journal of Hydrogen and New Energy
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• v.35 no.1
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• pp.14-26
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• 2024

Global efforts continue with the goal of transition to a "carbon neutral (net zero)" society with zero carbon emissions by 2050. For this purpose, the technology of water electrolysis is being developed, which can store electricity generated from renewable energies in large quantities and over a long period of time as hydrogen. Recently, various research and large-scale projects on 'green hydrogen', which has no carbon emissions, are being conducted. In this paper, a comparison of water electrolysis technologies was carried out and, based on data provided by the International Energy Agency (IEA), large-scale water electrolysis demonstration projects were analyzed by classifying them by technology, power supply, country and end user. It is expected that through the analysis of large-scale water electrolysis demonstration projects, research directions and road maps can be provided for the development/implementation of commercial projects in the future.

• Tunnel and Underground Space
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• v.24 no.6
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• pp.418-429
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• 2014

Induced seismicity related to four energy development technologies that involve fluid injection or withdrawal: geothermal energy, conventional oil and gas development including enhanced oil recovery (EOR), shale gas recovery, and carbon capture and storage (CCS) is reviewed by literature investigation. The largest induced seismic events reported in the technical literature are associated with projects that did not balance the large volume of fluids injected into, or extracted from the underground reservoir. A statistical observation shows that the net volume of fluid injected and/or extracted may serve as a proxy for changes in subsurface stress conditions and pore pressure, and other factors. Energy technology projects that are designed to maintain a balance between the amount of fluid being injected and the amount of fluid being withdrawn, such as geothermal and most oil and gas development, may produce fewer induced seismic events than technologies that do not maintain fluid balance, such as long-term wastewater disposal wells and CCS projects.

• Journal of the Korean Society of Industry Convergence
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• v.27 no.3
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• pp.547-553
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• 2024

Hydrogen is considered a key energy source to achieve carbon neutrality through the global goal of 'Net Zero'. Due to limitations in domestic green hydrogen production, Korean companies are interested in importing green hydrogen produced overseas. Because Australia and the Middle East possess high-quality renewable energy resources, they are attracting attention as suitable regions for producing green hydrogen using renewable energy. The cost of constructing and operating a green ammonia plant varies depending on the region. In this study, an economic feasibility comparison of green ammonia plant construction in Australia and the Middle East is conducted. Through this, it is expected to contribute to the economic analysis and feasibility analysis of the project to import hydrogen in the form of green ammonia into Korea.