Oklahoma Carbon Capture Opportunities
Oklahoma has been on the forefront of advancing carbon capture and storage, and recent analyses indicate how the state can thrive economically through further deployment of this technology today and in the future. Oklahoma was one of the first states to inject anthropogenic, or manmade, CO2 underground in 1982 and is one of the only states to recognize the potential to reuse stored CO2 for industrial and commercial applications. As one of the top producers of crude oil in the US, demand for CO2 for enhanced oil recovery (EOR) will be pivotal in maintaining these significant industries while also reducing their carbon footprint. The demand for CO2 in Oklahoma oil and gas extraction through EOR has the prospect of being supplied by carbon capture projects within the state itself. Multiple industries, including hydrogen production, cement, refineries and natural gas power plants are found to be potential candidates for capture projects in Oklahoma. Modeling analyses indicate the strong likelihood of future CO2 pipeline infrastructure passing through Oklahoma, transporting CO2 from ethanol plants and other facilities in nearby states and increasing the opportunities in Oklahoma for further CO2-EOR development coupled with geologic storage.
Qualified Industrial Facilities in Oklahoma
The Regional Carbon Capture Deployment Initiative has identified industrial facilities in numerous states as early candidates for carbon capture retrofits. These facilities could qualify for the revamped federal 45Q tax credit for projects that capture carbon for geologic storage and beneficial use. Facilities were selected based on emissions, equipment, and estimated capture cost.
Economically Feasible Industries in Oklahoma
The Regional Carbon Capture Deployment Initiative estimated theoretical capture costs based on published capture equipment costs, facility-specific operational patterns, existing equipment, and level of emissions. Based on that data, the graphic below displays several of Oklahoma’s most likely economically feasible candidates for capture, along with estimated capturable emissions in million metric tons and estimated range of capture costs for facilities in each industry. This list is not meant to be definitive. Commercial decisions by participating companies and policy and regulatory decisions by state governments will ultimately determine if a project is feasible for carbon capture. “Captured Emissions” refers to the amount of CO2 that can be expected to be captured at a facility considering relevant technological and economic constraints.
