D2.2 Economic Assessments

 D2.2 Economic Assessments

An economic evaluation of the costs for site development, based on likely injection design, was to be conducted on four sites: three offshore sites, in the UK sector of the North Sea offshore Scotland, in the South Adriatic sea and in the Norwegian Sea and an onshore site in Denmark. The variability of sites and their characterisation allowed for an interesting range of comparison. The SiteChar techno-economic assessment covers the exploration phase, the Front End Engineering and Design (FEED), the site development, the CO2 injection phase and long-term monitoring. The analysis was performed on the full lifetime of the storage site up to state/agency transfer of liability. Understanding what makes the differences between the costs estimated on the different sites should provide interesting outcomes, the aim of this study being to understand the critical and most influential parameters in the economic assessment.