Simulation
and Economic Analysis of Indirect Coal-to-Liquid Technology Coupling
Carbon Capture and Storage
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Abstract
Because
the liquid fuel market in China is growing rapidly compared to the
capacity for liquid fuel production, interest of coal-to-liquid technology
is growing for producing liquid fuel. Several processes have not yet
been industrialized. Among these, the Fischer–Tropsch (FT)
process for fuel production from coal was chosen for simulation and
analysis. We consider carbon capture and storage (CCS) technology
because of the importance of CO<sub>2</sub> emissions in climate change.
Systems with and without CCS coupling were simulated using Aspen Plus
software. We used the simulation results to estimate costs, investment
per unit of product, net present value, internal rate of return, and
the static investment recovery period as economic indicators. The
economic benefits of CCS technology were estimated in terms of CO<sub>2</sub> emission reductions cost and the cost for CO<sub>2</sub> capture.
We also performed a price sensitivity analysis. The results reveal
that CCS coupling to indirect coal liquefaction is economically feasible.
With the pressure to limit CO<sub>2</sub> emissions, CCS coupling
systems for FT fuel production are expected to be competitive