| Title | Potential Business Models of Carbon Capture and Storage (CCS) for the Oil Refining Industry in Thailand |
|---|---|
| ID_Doc | 75427 |
| Authors | Thepsaskul, W; Wongsapai, W; Sirisrisakulchai, J; Jaitiang, T; Daroon, S; Raksakulkan, V; Muangjai, P; Ritkrerkkrai, C; Suttakul, P; Wattakawigran, G |
| Title | Potential Business Models of Carbon Capture and Storage (CCS) for the Oil Refining Industry in Thailand |
| Year | 2023 |
| Published | Energies, 16, 19 |
| Abstract | The escalating concerns over climate change have propelled industries worldwide to seek innovative strategies for mitigating greenhouse gas emissions. Within the energy sector, Carbon Capture and Storage (CCS) technology emerges as a promising solution to curtail emissions and foster sustainable development aims for the net zero approach. This research delves into the role of government support in expediting CCS adoption for the maximum potential of 9.79 MtCO2 storage from six major refinery plants. The refineries mentioned above are anticipated to necessitate an initial capital investment of approximately 18,307 million THB. This research focuses on potential business model proposals appropriate for a country's context, specifically, applying CCS technology to the Thai oil refining sector. To achieve the realization of CCS within the context of this study, a combination of three essential measures will be required: tax incentives, carbon credits, and grants. This process will commence with the implementation of tax incentives, followed by an increase in the carbon price within the country. Finally, the establishment of a dedicated fund, funded through deductions from oil excise tax revenue, will play a pivotal role in facilitating the necessary financial support for the emergence of CCS. |
Similar Articles
| ID | Score | Article |
|---|---|---|
26541
|
Bai, YK; Zhang, YZ; Zhang, XP; Ng, TS Business model and supporting policies for projects to implement carbon capture and power-to-gas technologies(2023) | |
| 22630
|
Romasheva, N; Ilinova, A CCS Projects: How Regulatory Framework Influences Their Deployment(2019)Resources-Basel, 8.0, 4 | |
| 16890
|
Philbin, SP Critical Analysis and Evaluation of the Technology Pathways for Carbon Capture and Utilization(2020)Clean Technologies, 2, 4 | |
| 68658
|
Chu, BJ; Lin, BQ; Tian, LC; Zheng, CF; Ye, N; Zhu, YF; Tan, ZZ A long-term impact assessment of carbon capture (storage) investment conducted by conventional power company on sustainable development(2024) | |
| 12500
|
Naims, H Economic aspirations connected to innovations in carbon capture and utilization value chains(2020)Journal Of Industrial Ecology, 24.0, 5 |