With the government's goal of cutting annual greenhouse gas emissions to 4.8 million tons (t) by 2030 now effectively out of reach, domestic researchers suggested accelerating the commercialization of carbon capture, utilization and storage (CCUS) technology and securing storage sites.
Kwon I-gyun, president of the Korea Institute of Geoscience and Mineral Resources (KIGAM), said at a forum on "practical carbon-neutral solutions" held on the 1st at the National Assembly Members' Office Building in Yeouido, Seoul, "As a researcher who has been involved since the first generation of carbon capture, utilization and storage research, I feel responsible for the effective failure to achieve the national greenhouse gas reduction target (NDC)," adding, "Even now, we must check the demonstration level and resolve technology acquisition and industrialization plans through policy." The forum was hosted by Democratic Party of Korea lawmakers Jang Cheol-min, Hwang Jeong-a, and Lee Jae-gwan.
Korea set a plan in 2021 to reduce its greenhouse gas emissions by 40% from 730 million t in 2018 to 440 million t by 2030. However, last year's emissions were 691.58 million t, falling below 700 million t for the first time since 2010, but the achievement rate is only 11% to 12%.
Carbon capture, utilization and storage is a technology that captures carbon dioxide emitted from power plants and factories and stores or utilizes it, and is considered the most practical alternative for carbon neutrality. The International Energy Agency (IEA) projects that carbon capture, utilization and storage technology will account for 15% of global reductions by 2070.
However, the government's target for reductions through capture, utilization and storage technology by 2030 is only 11.2 million t, just 3.8% of the total required reduction of 291 million t. Experts at the forum said in unison, "Even if adjusting the reduction target is inevitable, we must at least speed up the carbon capture, utilization and storage infrastructure."
Shin Young-jae, a professor at Korea Maritime and Ocean University, said, "In the short term, pushing forward large-scale storage projects in the East Sea and West Sea and securing an additional 200 million t of storage capacity is realistic," adding, "Demonstrations of capture, utilization and storage technology using the Donghae gas field are also necessary." Shin said, "Despite promising structures, drilling is delayed, slowing site acquisition," and pointed out, "It is urgent to select candidate sites and assess capacity through exploration and drilling."
The Korea National Oil Corporation (KNOC) is also pursuing a project to use the Donghae gas field as a carbon capture, utilization and storage site. Lee Seung-cheol, Minister at KNOC, said, "The Donghae gas field is the only depleted gas field in Korea where extraction has been completed, making it an optimal site that can store 1.2 million t of carbon annually in the empty space," adding, "We need to expedite the demonstration project."
An analysis also found that domestic storage capacity is not lacking. Kim Byeong-yeob, a researcher at KIGAM's Resource Exploration and Development Research Center, said, "Domestic storage sites are estimated to total 12 trillion t," adding, "The problem is not the lack of storage sites but the delays in exploring and securing candidates." In fact, in a comprehensive assessment in 2021, KIGAM identified not only the Donghae gas field but also the Gunsan Basin (300 million to 400 million t) and the West Sea continental shelf (100 million to 200 million t) as promising candidates.
Kim emphasized, "The timing of achieving climate change response goals may be slightly delayed, but the goals will not be rolled back," adding, "Securing storage sites must be pursued in a timely manner through step-by-step capacity assessments and geophysical surveys to avoid falling behind in the international carbon capture, utilization and storage race."