The Alaska Carbon Dioxide Storage Agreement is a legally binding agreement that involves the long-term storage of carbon dioxide (CO2) in underground reservoirs or geological formations within the state of Alaska. This agreement aims to mitigate the effects of greenhouse gas emissions by capturing and securely storing CO2, thereby reducing its release into the atmosphere, and ultimately tackling climate change. Under this agreement, parties involved commit to implementing carbon capture and storage (CCS) technologies to capture CO2 emissions from various industries such as power plants, oil refineries, or natural gas processing plants. The captured CO2 is then compressed and transported to designated storage sites in Alaska. These storage sites can include deep saline aquifers (porous rock formations filled with saltwater), depleted oil or gas fields, or unsinkable coal seams. The selected sites must have the capacity and geological characteristics necessary to ensure safe and permanent CO2 storage. The Alaska Carbon Dioxide Storage Agreement recognizes the importance of proper monitoring and verification to ensure the integrity of stored CO2 and the long-term effectiveness of the storage sites. Regular inspections and assessments are conducted to monitor the movement, containment, and behavior of the stored CO2. This helps to identify and address any potential leakage risks, confirm the permanent storage of CO2, and evaluate the overall environmental impact of the storage process. There are different types of Alaska Carbon Dioxide Storage Agreements, depending on the specific project and parties involved. Some of these include: 1. Public-Private Partnerships: These agreements involve cooperation between government entities and private companies. The government may provide funding, incentives, or regulatory assistance to facilitate the development and implementation of CCS projects. Private companies, on the other hand, contribute expertise, technology, and financial resources required for carbon capture and storage operations. 2. Industry Collaborations: These agreements are formed among multiple industries or companies within a particular sector, such as energy, manufacturing, or transportation. By pooling resources and sharing infrastructure for CO2 capture and storage, these collaborations aim to optimize CO2 reduction efforts and achieve economies of scale. 3. Research and Development Agreements: These agreements focus on advancing technological innovations and exploring new carbon capture and storage methods. Research institutions, government agencies, and private entities collaborate to conduct studies, pilot projects, and experiments, aiming to improve the effectiveness, efficiency, and safety of CO2 storage technologies. 4. International Cooperation Agreements: These agreements involve cooperation between Alaska and other countries that are actively pursuing carbon capture and storage projects. The sharing of knowledge, experiences, and best practices can help accelerate the development and deployment of CCS technologies globally, fostering a collective effort to combat climate change. In summary, the Alaska Carbon Dioxide Storage Agreement entails a comprehensive framework for effectively capturing and storing CO2 emissions, with the ultimate goal of reducing greenhouse gas levels in the atmosphere. Through various agreements, collaborations, and partnerships, Alaska seeks to play a critical role in addressing climate change, protecting the environment, and paving the way for a sustainable future.
Alaska Carbon Dioxide Storage Agreement
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SB 48 establishes a statewide carbon offset program within the Department of Natural Resources (DNR). That means a business or entity that produces carbon dioxide can offset those emissions by buying credits generated by nature-based projects on State land.
OSHA has established a Permissible Exposure Limit (PEL) for CO2 of 5,000 parts per million (ppm) (0.5% CO2 in air) averaged over an 8-hour work day (time-weighted average orTWA.)
Carbon dioxide (CO2) can be stored underground as a supercritical fluid. Supercritical CO2 means that the CO2 is at a temperature in excess of 31.1°C (88ºF) and a pressure in excess of 72.9 atm (about 1,057 psi); this temperature and pressure defines the critical point for CO2.
Alaska has important competitive advantages for the development of a CCUS industry. The State owns the pore space used for storage under State lands, which allows leasing of large contiguous storage sites.
How can CO2 be stored underground? Compressed CO2 can be injected into porous rock formations below the Earth's surface using many of the same methods already used by the oil and gas industry. The three main types of geological storage are oil and gas reservoirs, deep saline formations, and un-minable coal beds.
Carbon capture and storage (CCS) costs depend on the process type, capture technology, carbon dioxide (CO2) transport, and storage location. CO2 capture costs are projected to range from CAD 27?48/tCO2 for processes with concentrated CO2 streams to CAD 50?150/tCO2 for diluted gas streams.
CO2 is transported, stored and handled in liquid form, either at ambient temperature (in cylinders or non-insulated storage tanks at a pressure of 45-65 bar) or refrigerated (in insulated tankers and storage tanks) at temperatures between -35 °C and -15 °C and pressures of 12 to 25 bar.
CO2 is transported, stored and handled in liquid form, either at ambient temperature (in cylinders or non-insulated storage tanks at a pressure of 45-65 bar) or refrigerated (in insulated tankers and storage tanks) at temperatures between -35 °C and -15 °C and pressures of 12 to 25 bar.