Alex Bump, Gulf Coast Carbon Center, Bureau of Economic Geology, University of Texas at Austin
Biography: Alex is a Research Science Associate in the Gulf Coast Carbon Center. His current work focusses on the application of petroleum exploration processes to the problem of finding, de-risking and developing geologic storage sites for CO2. Prior to joining the BEG, he spent 16 years in global exploration with BP, including roles as an Advisor and as Head of Discipline for Structural Geology and Tectonics. In his time with BP, he worked over 50 basins on 5 continents and wrote and delivered over 100 courses in exploration, structural geology and tectonics. He holds a BA in Physics from Williams College and a PhD in Structural Geology and Tectonics from the University of Arizona. Outside of work, he is a triathlete by day, a woodworker by night, a dad always and a caffeine adict by necessity
Abstract:
Driven by growing concerns about climate change, investors, governments and companies around the world are increasingly looking for ways to reduce or eliminate their carbon emissions. With current global emissions of ~35 billion tons/year, it is an enormous challenge that will require all available solutions, including renewable energy sources, improved efficiency, fuel switching, changes in land use and carbon capture and storage (CCS). The latter is the practice of capturing CO2 from point sources and sequestering it deep underground, using the same sort of reservoirs and seals that hold naturally-occurring hydrocarbons. CCS is unique in its ability to abate process emissions (such as the manufacture of cement, steel, ethanol and petrochemicals), to decarbonize dispatchable combustion-based power and even to create negative carbon emissions when combined with bio-energy or Direct Air Capture (literally filtering CO2 from ambient air).
At present, the CCS industry is in its infancy but interest is skyrocketing, driven (in the US) largely by the 45Q tax credit, which offers $50/ton for geologic storage of CO2. A wide range of storage projects are now in development and many more are in negotiation behind closed doors. Many of these repurpose old oil fields, either for storage or for CO2-Enhanced Oil Recovery (EOR) with incidental storage. Both have merit but the total opportunity set is insufficient to store the volumes of CO2 needed to mitigate climate change. Large-scale dedicated saline storage is also required and it offers the opportunity for new thinking. What works well for hydrocarbon production is not necessarily optimal for CO2 sequestration. This talk will look at the play elements for optimizing CO2 storage, the plays that emerge and the landscape for commercial storage on the Gulf Coast. With extensive proven hydrocarbon reservoirs, abundant subsurface data and more point-source CO2 emissions than any other state, Texas is well positioned to lead the development of this new industry.