Decarbonisation Technology May 2022 Issue

1 2 3 6 7 4 5 8

IRR 8% IRR 12%

110

120

130

140

110

130

Barrel of Brent equivalent ($/bbl)

Figure 2 Economic viability chart for the BTL-FT-CCS case

produce a wide variety of liquid hydrocarbons. The actual product mix is strictly related to the selected operating conditions, the type of catalyst, and the reactor design. When an FT process is coupled with a biomass gasification facility, sustainable liquid fuels can be produced for aviation and marine propulsion without upsetting the existing distribution infrastructures. Since these products are crude oil derivative analogues, they are subject to the same market dynamic of crude oil and its derivatives. Hence, the economic viability of a BTL-FT is linked to the expected oil price actions, which set the maximum feedstock price for the investment to be profitable. Figure 3 Economic viability chart for the BTL-FT- CO 2 vent case

• Computing the maximum feedstock prices that set the gross profit equation to zero • Assuming the electric energy is quoted at $42 per MWh. Figure 2 shows the results of the algorithm described above for 8% and 12% rates of return. The BTL-FT plant operates at a loss to the left of the 8% or 12% RR lines in the chart, while it operates at a profit to the right. It is worth mentioning that for the case without a carbon capture and storage facility integrated into the plant line-up to attain the carbon balance negative, the above equilibrium lines move downward and to the right, so a BTL-FT-CO2 vent project is going to be feasible for higher BBE and lower biomass prices, as shown in Figure 3. Takeaway The Fischer-Tropsch process is the catalytic, non- selective polymerisation of CO and H 2 , which can

Lorenzo Micucci l.micucci@siirtechnigi.com

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