Gürcan Gülen

The system-wide economics of a carbon dioxide capture, utilization, and storage network: Texas Gulf Coast with pure CO2-EOR flood

This letter compares several bounding cases for understanding the economic viability of capturing large quantities of anthropogenic CO2 from coal-fired power generators within the Electric Reliability Council of Texas electric grid and using it for pure CO2 enhanced oil recovery (EOR) in the onshore coastal region of Texas along the Gulf of Mexico. All captured CO2 in excess of that needed for EOR is sequestered in saline formations at the same geographic locations as the oil reservoirs but at a different depth. We analyze the extraction of oil from the same set of ten reservoirs within 20- and five-year time frames to describe how the scale of the carbon dioxide capture, utilization, and storage (CCUS) network changes to meet the rate of CO2 demand for oil recovery. Our analysis shows that there is a negative system-wide net present value (NPV) for all modeled scenarios. The system comes close to breakeven economics when capturing CO2 from three coal-fired power plants to produce oil via CO2-EOR over 20 years and assuming no CO2 emissions penalty. The NPV drops when we consider a larger network to produce oil more quickly (21 coal-fired generators with CO2 capture to produce 80% of the oil within five years). Upon applying a CO2 emissions penalty of 60

Reforming Turkish Energy Markets

2009/tCO2 to fossil fuel emissions to ensure that coal-fired power plants with CO2 capture remain in baseload operation, the system economics drop significantly. We show near profitability for the cash flow of the EOR operations only; however, this situation requires relatively cheap electricity prices during operation.

Economic analysis of an integrated anthropogenic carbon dioxide network for capture and enhanced oil recovery along the Texas Gulf Coast

Turkey has been reforming its energy markets since the 1980s, culminating in two major bills in the early 2000s. The country has restructured electricity and natural gas markets, establishing an independent regulatory agency (EMRA) and passed legislation on renewable and nuclear energy. With these regulatory reforms, Turkey, as a candidate country for accession to the European Union (EU), has aimed to direct the energy markets to a more competitive environment in parallel with EU energy directives. This book contains an analysis of regulatory reforms in Turkish energy markets (electricity, natural gas, renewable and nuclear energy), the impact of these reforms on countrys energy portfolio and role in global energy trade, especially between the EU, the Caspian, Caucasus, and Central Asia. Finally, the book concludes with recommendations for Turkish energy policy. The authors are expert scholars who have written extensively on Turkish regulatory reform and energy economics and who have broad knowledge of global energy market dynamics. The book will be a unique guide for those concerned with the different areas of the Turkish economy and international audiences interested in energy markets of Turkey and surrounding regions, making the book of interest to not only researchers in academia but also industry practitioners, regulators and policy makers as well.

Alternative Energy Options for Turkey

This paper explains the system economics of an example integrated network that uses anthropogenic CO2 from Texas Gulf Coast fossil power plants for enhanced oil recovery (EOR). These CO2 sources and sinks are connected via a pipeline network. A discounted cash flow model indicates that for all candidate oil fields that require less than an estimated

Policy Recommendations for Turkish Energy Future

10/BBL in EOR capital expenditure, all three entities (CO2 capture, pipelines, and EOR operators) can have 20% internal rate of return at

The Reform of Natural Gas Market in Turkey

55 per tonne of CO2 and

Regulatory Reform and Competition in the Turkish Electricity Industry

56 per barrel of oil. These results include no existing or future tax incentives, and there are some costs not yet included. However, a Monte Carlo analysis shows insight by indicating that the total system rate of return is most sensitive to oil production parameters. Oil price and estimated amount of recoverable oil are the most positively influential factors while the EOR capital cost is the most negatively sensitive factor. The capital costs of capture and CO2 price are less sensitive, both negatively affecting rate of return.Copyright

Well economics across ten tiers in low and high Btu (British thermal unit) areas, Barnett Shale, Texas

Turkey, like many other countries, has been promoting renewable energy technologies and energy efficiency programs, but the country had a later start than most to initiate a legal and regulatory framework and to develop targeted support programs. A definition of renewables was introduced via an amendment of the electricity law in 2003 but the Renewables Law was not passed until 2005. Significant new wind capacity was added between 2009 and 2011. As of the end of 2011, more than 1,600 MW of installed wind capacity was reported.

Barnett Shale Production Outlook

Turkey has been growing fairly rapidly since the 1980s; energy demand has increased accordingly, albeit at slower rates than in emerging economies such as China thanks to Turkey’s lower energy intensity. Turkey does not have significant production of oil and gas; and most of domestic coal production is lignite, which has lower heat value. As such, the country’s dependence on imported energy has increased over the years from just crude oil and oil products to natural gas since 1986 and coal more recently. As with all import-dependent countries, energy security has been a primary driver of Turkish energy strategies. But, energy security seems to have gained a renewed importance with the price of oil seemingly having reached a higher plateau since 2003–2004.

Profitability of shale gas drilling: A case study of the Fayetteville shale play

The use of natural gas in Turkey has increased by 96% in Turkey. Today, total natural gas consumption of Turkey is around 38.2 bcm per annum and Turkey produces only 690 mcm of natural gas. Accordingly, 98% of gas is imported from Russia, Iran, Azerbaijan, Algeria, and Nigeria via pipelines and LNG. Turkey’s natural gas demand is obviously dependent on imports and especially the Russian gas that meets around 45% of consumption in Turkey. Moreover, the dependency of electricity generation on natural gas in Turkey is about 47 and 51% of natural gas is used for electricity production. Although the importance of natural gas in Turkey has increased over time, the market continues to witness crucial issues in terms of natural gas policies of Turkey. This section scrutinizes the regulatory reforms, policy issues, and the evolution of market structure in the Turkish natural gas market, and the geopolitical role of Turkey between the gas-rich regions and Europe.