See my most recent post and Michaeljobs reply quote: If this is the method they proceed with it’s a ‘green’ scam. Pure and simple. They will brand it as green but it’s simply an oil recovery mechanism branded green to limit public opposition. Most Taranaki oil and condensate fields are relatively depleted, the CO2 would essentially be pumped back into the ground to sweep out more oil and gas. That gas would be used as it has been for decades to produce things like urea and methanol. With the project touted for Taranaki the likely field will be the Kapuni field owned by The Todd family. What they conveniently forget to mention is that circa 45% of the gas production from that field is CO2. I should know, I used to run the plant that removed this...The simple solution if it was truely about reducing carbon emissions would be to just reinject that already separated CO2 hence increasing the productivity of the field while lowering the emissions. If they wanted to then go a step further and use the gas in a more environmentally friendly manner then enter the Hazer process which could be used as a conditioning plant on the front end of the urea and methanol plants capturing the additional carbon as graphite.
HZR Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held