Risk Analysis and Techno-Economic Study of Methanol Production through Co2 Capture Process

Ayu Chairunisa, Department of Chemical Engineering, Universitas Indonesia, Depok, Indonesia

ABSTRACT

The production of methanol through CO2 capture process can provide valuable chemicals as well as climate change mitigation at the same time. A techno-economic analysis is needed in order to know whether the production process is economically profitable if applied on an industrial scale. A risk analysis is also required to assess various outcomes and probabilities that can impact the profitability of the production process. The risk analysis can be done through Monte-Carlo simulation. The CO2 capture unit in this research was based on two-stage flash configuration using EEMPA solvent while the methanol production unit equipped two reactors in series because those configurations have the lowest production costs among the others. The total capital investment of this process was 857.09 MM$ while the annual manufacturing cost was $2.88 billion/year. The resulting NPV was -$15.58 billion, the PBP was -0.58, the PI was -23.12, and the cash flow never reached its break-even point. To make this process economically viable, the hydrogen price must be lowered and carbon credit scheme can be applied.

KEYWORDS

CO2 Capture, Methanol, Techno-economic Study, Risk Analysis.