Oxygen blast furnace with CO2 capture and storage at an integrated steel mill: Part II: Economic Feasibility in Comparison with Conventional Blast Furnace Highlighting Sensitivities

E. Tsupari (Corresponding Author), J. Kärki, A. Arasto, J. Lilja, K. Kinnunen, M. Sihvonen

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Abstract

This article is part II of the series of two papers regarding the application of oxygen blast furnace (OBF) in Ruukki Metals Ltd.’s existing steel mill, located in city of Raahe, Finland. The economic assessment presented in this paper is based on the technical modelling presented in part I of the study. OBF with CCS would lead to large reductions in CO2 emissions but also OBF without CCS would decrease emissions significantly due to decreased coke consumption. From economic point of view, other important consequences of OBF process are increased LPG or LNG (liquefied petroleum gas or liquefied natural gas) consumption, decreased electricity production (increased purchase from markets), required investments and CO2 transportation and storage costs. As CCS processes typically, especially application of OBF is a trade-off between decreased electricity production and decreased emissions. Therefore a correlation between CO2 price development and electricity price development is of interest. In this paper, several sensitivity analyses are presented with different prices for CO2, electricity and other parameters. The results present the sensitivity of different options in terms of economic feasibility for large CO2 reductions in the integrated steel mill based on blast furnace process.
Original languageEnglish
Pages (from-to)189 - 196
JournalInternational Journal of Greenhouse Gas Control
Volume32
DOIs
Publication statusPublished - 2015
MoE publication typeA1 Journal article-refereed

Fingerprint

Iron and steel plants
Blast furnaces
mill
steel
oxygen
Economics
Oxygen
Electricity
economics
electricity
Liquefied petroleum gas
Liquefied natural gas
liquefied petroleum gas
liquefied natural gas
Coke
trade-off
comparison
blast furnace
market
metal

Keywords

  • blast furnaces
  • carbon capture
  • carbon dioxide
  • electric power creation
  • iron and steel industry
  • economic feasibility

Cite this

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title = "Oxygen blast furnace with CO2 capture and storage at an integrated steel mill: Part II: Economic Feasibility in Comparison with Conventional Blast Furnace Highlighting Sensitivities",
abstract = "This article is part II of the series of two papers regarding the application of oxygen blast furnace (OBF) in Ruukki Metals Ltd.’s existing steel mill, located in city of Raahe, Finland. The economic assessment presented in this paper is based on the technical modelling presented in part I of the study. OBF with CCS would lead to large reductions in CO2 emissions but also OBF without CCS would decrease emissions significantly due to decreased coke consumption. From economic point of view, other important consequences of OBF process are increased LPG or LNG (liquefied petroleum gas or liquefied natural gas) consumption, decreased electricity production (increased purchase from markets), required investments and CO2 transportation and storage costs. As CCS processes typically, especially application of OBF is a trade-off between decreased electricity production and decreased emissions. Therefore a correlation between CO2 price development and electricity price development is of interest. In this paper, several sensitivity analyses are presented with different prices for CO2, electricity and other parameters. The results present the sensitivity of different options in terms of economic feasibility for large CO2 reductions in the integrated steel mill based on blast furnace process.",
keywords = "blast furnaces, carbon capture, carbon dioxide, electric power creation, iron and steel industry, economic feasibility",
author = "E. Tsupari and J. K{\"a}rki and A. Arasto and J. Lilja and K. Kinnunen and M. Sihvonen",
year = "2015",
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volume = "32",
pages = "189 -- 196",
journal = "International Journal of Greenhouse Gas Control",
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T1 - Oxygen blast furnace with CO2 capture and storage at an integrated steel mill

T2 - Part II: Economic Feasibility in Comparison with Conventional Blast Furnace Highlighting Sensitivities

AU - Tsupari, E.

AU - Kärki, J.

AU - Arasto, A.

AU - Lilja, J.

AU - Kinnunen, K.

AU - Sihvonen, M.

PY - 2015

Y1 - 2015

N2 - This article is part II of the series of two papers regarding the application of oxygen blast furnace (OBF) in Ruukki Metals Ltd.’s existing steel mill, located in city of Raahe, Finland. The economic assessment presented in this paper is based on the technical modelling presented in part I of the study. OBF with CCS would lead to large reductions in CO2 emissions but also OBF without CCS would decrease emissions significantly due to decreased coke consumption. From economic point of view, other important consequences of OBF process are increased LPG or LNG (liquefied petroleum gas or liquefied natural gas) consumption, decreased electricity production (increased purchase from markets), required investments and CO2 transportation and storage costs. As CCS processes typically, especially application of OBF is a trade-off between decreased electricity production and decreased emissions. Therefore a correlation between CO2 price development and electricity price development is of interest. In this paper, several sensitivity analyses are presented with different prices for CO2, electricity and other parameters. The results present the sensitivity of different options in terms of economic feasibility for large CO2 reductions in the integrated steel mill based on blast furnace process.

AB - This article is part II of the series of two papers regarding the application of oxygen blast furnace (OBF) in Ruukki Metals Ltd.’s existing steel mill, located in city of Raahe, Finland. The economic assessment presented in this paper is based on the technical modelling presented in part I of the study. OBF with CCS would lead to large reductions in CO2 emissions but also OBF without CCS would decrease emissions significantly due to decreased coke consumption. From economic point of view, other important consequences of OBF process are increased LPG or LNG (liquefied petroleum gas or liquefied natural gas) consumption, decreased electricity production (increased purchase from markets), required investments and CO2 transportation and storage costs. As CCS processes typically, especially application of OBF is a trade-off between decreased electricity production and decreased emissions. Therefore a correlation between CO2 price development and electricity price development is of interest. In this paper, several sensitivity analyses are presented with different prices for CO2, electricity and other parameters. The results present the sensitivity of different options in terms of economic feasibility for large CO2 reductions in the integrated steel mill based on blast furnace process.

KW - blast furnaces

KW - carbon capture

KW - carbon dioxide

KW - electric power creation

KW - iron and steel industry

KW - economic feasibility

U2 - 10.1016/j.ijggc.2014.11.007

DO - 10.1016/j.ijggc.2014.11.007

M3 - Article

VL - 32

SP - 189

EP - 196

JO - International Journal of Greenhouse Gas Control

JF - International Journal of Greenhouse Gas Control

SN - 1750-5836

ER -