The Economic Viability of Carbon-Dioxide Capture and Storage in Hungary = A Szén-Dioxid-Leválasztás és -Tárolás Gazdasági Lehetőségei Magyarországon

Absztrakt (kivonat)

This paper attempts to determine whether carbon dioxide capture and storage is economically viable in Hungary. To achieve this, costs for each part of the carbon capture and storage (CCS) value chain must be estimated. The paper uses mixed-method research: a combination of a literature review, interviews with relevant experts, and cost analysis to determine the price of CO2 captured for various industrial and energy generation processes. In the cost analysis an optimistic, a pessimistic, and an average scenario was calculated for each part of the carbon capture and storage process. From the expert interviews, it was determined that CO2 storage is indeed technically feasible in Hungary, and associated risks can be handled. The results from the cost analysis are on the other hand much more bleak for the technology. Under the 2023 average carbon price, few industries could utilize CCS. There will probably be more possibilities by 2030, but even then, roll-out will be hampered by the associated financial risk. As a result, the technology will probably only be used in hard-to-decarbonize but essential sectors such as cement manufacturing.