RE: Largest capacity CCS in Europe15 May 2024 17:17
That is the point Grower, the capacity is so large that it will probably never be "fully developed" because there simply won't be enough customers to go round.
As Bobbby says Block have done fantastically well to get into bed with Rustavi Azot / Indorama and there many other potential customers / industries in the Rustavi area that Block should be able to sign up as well.
But there could also be competition from other Oil and Gas companies offering carbon capture facilities in the vicinity.
This from the OPC website:
" OPC have worked with Georgia Oil and Gas Limited (GOGL), the Georgian government and industrial partners to identify opportunities to decarbonise local CO2 emitters and future hydrocarbon projects.
Initial screening proposed linking CO2 emitters in the Gardabani-Rustavi industrial hub with legacy oil and gas reservoirs in the local area to permanently store CO2 or to utilise it for enhanced oil recovery (EOR). OPC identified several depleted reservoirs as the first candidates for screening. The objectives of the multi-disciplinary regional screening were as follows:
Review of the geology and geophysics of the depleted reservoirs
Calculation of the theoretical CO2 storage capacity
Perform a conceptual EOR assessment to understand recoverable volumes
Model CO2 injectivity performance of reference wells using Prosper to develop an optimum injection strategy
Evaluate commercialisation and economic viability of the CCS cluster"
So for that reason I think Bobbbies 10 bagger (for CCS) is a bit closer to the mark than your 100 bagger - just trying to be realistic.
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