Korea Clean Carbon Storage Project 2025

Abstract

The Korea Clean Carbon Storage Project (KCCS 2025) is a demonstration project for 1 Mt/year offshore CCS, which is now under the planning phase by Korean Ministry of Oceans and Fisheries (MOF). Korea Research Institute of Ships and Ocean Engineering (KRISO), KNOC, KIOST and other partner research institutes have carried out the offshore carbon storage R&D project supported by MOF. The main results over the last 5 years were the screening and selection of suitable storage site, the design of the transportation and other engineering processes, and management of relevant marine environmental risks. The storage prospects located in continental shelf of southwestern area of Ulleung Basin (southwestern East Sea) were proposed for KCCS 2025. The purpose of KCCS 2025 are to test the validation of CCS technology as an option for reducing emission of greenhouse gases in Korea and to make social and financial framework for use of CCS technologies. The potential budget for KCCS 2025 is estimated to be 726 billion won for 3 phases of the project for next 10 years. Test drilling and characterization of the injection target will be conducted during the Phase 1(first 2-3 years). Phase 2(next 3 or 4 years) is for FEED and EPC of technical value chains such as CCS hub, ship, pipeline and platform. Phase 3(last 3 or 4 years) is for operation and injection of CO2 and monitoring the injected CO2. The KCCS 2025 will make it possible to cogineering (KRISO), KNOC, KIOST and other partner research institutes have carried out the offshore carbon storage R&D project supported by MOF. The main results over the last 5 years were the screening and selection of suitable storage site, the design of the transportation and other engineering processes, and management of relevant marine environmental risks. The storage prospects located in continental shelf of southwestern area of Ulleung Basin (southwestern East Sea) were proposed for KCCS 2025. The purpose of KCCS 2025 are to test the validation of CCS technology as an option for reducing emission of greenhouse gases in Korea and to make social and financial framework for use of CCS technologies. The potential budget for KCCS 2025 is estimated to be 726 billion won for 3 phases of the project for next 10 years. Test drilling and characterization of the injection target will be conducted during the Phase 1(first 2-3 years). Phase 2(next 3 or 4 years) is for FEED and EPC of technical value chains such as CCS hub, ship, pipeline and platform. Phase 3(last 3 or 4 years) is for operation and injection of CO2 and monitoring the injected CO2. The KCCS 2025 will make it possible to co