METHODOLOGYFORCARBONCAPTUREANDSTORAGEDocumentPreparedby:PerspectivesClimateGroupGmbHandSouthPoleCarbonAssetManagementLtdTitleMethodologyforCarbonCaptureandStorageVersionDraftforPublicConsultationDateofIssueJune302023Type☒NewMethodology☐MethodologyRevisionSectoralScope16.CarbonCaptureandStorageDeveloperCCS+InitiativeContactinformationinfo@ccsplus.orgMethodology:VCSVersion4.1CONTENTSMETHODOLOGYFORCARBONCAPTUREANDSTORAGE..........................................1CONTENTS......................................................................................................................21SOURCES..............................................................................................................32SUMMARYDESCRIPTIONOFTHEMETHODOLOGY............................................43DEFINITIONS.........................................................................................................54APPLICABILITYCONDITIONS..............................................................................85PROJECTBOUNDARY........................................................................................106BASELINESCENARIO.........................................................................................137ADDITIONALITY..................................................................................................148QUANTIFICATIONOFGHGEMISSIONREDUCTIONSANDREMOVALS..........178.1BaselineEmissions.............................................................................................................178.1.1MethodsforCO2measurement...............................................................................................188.1.2MeasurementbasedonMassFlowRate................................................................................188.1.3MeasurementbasedonVolumetricFlowRate........................................................................198.2ProjectEmissions...............................................................................................................208.3Leakage.............................................................................................................................218.4EmissionReductionsandRemovals...............................................................................219MONITORING....................................................................................................229.1DataandParametersAvailableatValidation............................................................229.2DataandParametersMonitored...................................................................................249.3DescriptionoftheMonitoringPlan.................................................................................3010REFERENCES.......................................................................................................3131SOURCESThefollowinghaveinformedthedevelopmentofthemethodology:●“Carbondioxidecapture,transportation,andgeologicalstorage—Quantificationandverification”,StandardISO/TR27915:2017●“CarbonDioxideTransport,InjectionandGeologicalStorage”,Chapter5inVolume2ofthe2006IPCCGuidelinesforNationalGreenhouseGasInventories●“TheGHGProtocolforProjectAccounting”,WorldBusinessCouncilforSustainableDevelopment(WBCSD)andtheWorldResourcesInstitute(WRI)●“AGreenhouseGasAccountingFrameworkforCarbonCaptureandStorageProjects”,CentreforClimateandEnergySolutions●“Methodologyforthequantification,monitoring,reportingandverificationofgreenhousegasemissionsreductionsandremovalsfromcarboncaptureandstorageprojects,Version1.1.,publishedbytheAmericanCarbonRegistry●“GuidelinesforCarbonCapture,TransportandStorage”,WRI●“GeneralTechnicalSupportDocumentforInjectionandGeologicStorageofCO2underSubpartRRandUUoftheGHGRP”,USEPA●“High-LevelCriteriaforcreditingCarbonGeostorageActivities”ProvisionalVersion1.0,IETA●“ImpactAssessmentReportPart1/2andPart2/2”AccompanyingdocumentstoProposalforaRegulationoftheEuropeanParliamentandoftheCouncilestablishingaUnioncertificationframeworkforcarbonremovals,EUCommissionStaffWorkingDocument,BrusselsThismethodologyusesthelatestversionofthefollowingmodulesandtools:CaptureModules•VMD00XX:CO2CapturefromAir(DirectAirCapture)•VMD00XX:CO2CapturefromFossilFuelorGeothermalBasedPowerandHeatGeneration(underdevelopment)•VMD00XX:CO2CapturefromIndustrialProcesses(underdevelopment)•VMD00XX:CO2CapturefromOilandGasProductionandProcessing(underdevelopment)•VMD00XX:CO2CapturefromBiogenicSources(BECCS)(underdevelopment)TransportModule(s)•VMD00XX:ModuleforCO2TransportMethodology:VCSVersion4.04StorageModules•VMD00XX:CO2StorageinSalineAquifers•VMD00XX:CO2StorageinDepletedOilandGasReservoirs(underdevelopment)OtherModules/Tools•VMT00XX:ToolforDifferentiationbetweenEmissionReductionsandRemovalsinCarbonCaptureandStorageProjects(underdevelopment)•VMT00XX:ToolforBaselineQuantificationandAllocationofProjectEmissionsinProjectswithVCSandnon-VCS-CO2flowsinCarbonCaptureandStorageProjects(underdevelopment)ThismethodologyusesthelatestversionsofthefollowingCDMTools:•CDMTOOL01:Toolfordemonstrationandassessmentofadditionality•CDMTOOL06:Methodologicaltool:Projectemissionsfromflaring•CDMTOOL27:InvestmentAnalysis2SUMMARYDESCRIPTIONOFTHEMETHODOLOGYAdditionalityandCreditingMethodAdditionalityProjectmethodCreditingBaselineProjectmethodThismethodologyestablishescriteriaandprocedurestoquantifythegreenhousegas(GHG)emissionreductionsandremovalsfromCarbonCaptureandStorage(CCS)projects(hereinreferredtoasprojectactivities).Thismethodologyutilizesamodularframework(hereinafterreferredtoasthemethodologyframework)wherethismethodologydocumentprovidesoverarchingrequirementsforprojectsandseparatemoduledocumentsestablishcriteriaandproceduresforquantifyingemissionsfromcorrespondingcapture,transport,andstorageactivities.Themethodologyframeworkallowsforthequantificationofanycombinationofeligiblecapture,transport,andstorageactivitiesusingthismodularapproach.Methodology:VCSVersion4.053DEFINITIONSInadditiontothedefinitionssetoutintheProgramDefinitionsoftheVCSProgram,thefollowingdefinitionsapplytothismethodology:AtmosphericCarbonDioxide(CO2)Well-mixedcarbondioxideinthefreeatmosphereatambientairtemperature,wheretheconcentrationofCO2isnotimpactedbylocalpointsourcesbutmayvarybecauseofregionalanthropogenicandnaturalemissionsources.BioenergyCarbonCaptureandStorage(BECCS)ThecaptureofCO2resultingfromeitherthecombustionofrenewableandsustainablebiomassinabioenergyplanttoproduceelectricityand/orheat,ortheprocessingofrenewableandsustainablebiomassinaplanttoproducebiofuels(e.g.,byanaerobicdigestionorfermentation)BiogenicSourcesSourcesofcarbon/carbondioxidethatoriginatefromorganicmaterials(i.e.,recentlylivingorganisms,suchasplants).Carbondioxidemightbereleasedfromthesesourcesbycombustion,decomposition,orbiomassprocessing.Thebiomasscanbesolid(e.g.,wood),liquid(e.g.,bioethanol),orgaseous(e.g.,biogas)CaptureFacilityThecapturefacilityincludestheCO2separationandcaptureprocess(e.g.,absorption,adsorption,membrane,electro-chemicalorcryogenicprocess)andtypicallyaCO2conditioningprocess.Acapturefacilitymayconsistofseveralindependentcaptureunitsapplyingthesameordifferentprocesses.Suchunitsmaysharesomeauxiliaryequipment,butthemainCO2separationandthecaptureprocess(e.g.,theabsorbercolumn)wouldnotbeshared.Forsomeindustries,suchastheethanolornaturalgasindustry,theCO2streamproducedmaybeconcentratedandnotrequireseparationequipment.CO2ConditioningTheprocessoftreatmentofanincomingCO2streamtoachievetherequiredconditionsfortransportand/orinjectionandstorageoftheCO2inaCCSprojectactivity.Itmayincludevariousprocessesincludingbutnotlimitedtorefrigeration,dehydration,desulphurization,deoxygenation,andcompressionConformanceThedegreeofagreementbetweenreservoirmodelpredictionsandcurrentmeasureddataandperformancefromthestoragereservoirforageologiccarbonstorage(GCS)project.Methodology:VCSVersion4.06DirectAirCapture(DAC)AprocesstocaptureandconcentrateatmosphericCO2usingvariousseparationmethods.FlueGasFluegasisthegasthatcontainstheCO2fromasourcefacilitythatiscapturedundertheCCSprojectactivity.Itmaycontainwatervapor,particulates,heavymetals,acidicgases,etc.Itisgeneratedasaresultofacombustionprocess,achemicalprocess,orthereleaseofnon-condensablegases.Furthermore,fluegasmaybegeneratedbytheCCSprojectactivity(i.e.,CO2releasedfromtheprojectactivity(e.g.,fromaboiler)thatmayormaynotbecaptured.GeologicalReservoirSubsurfacebodyofrockwithsufficientporosityandpermeabilitytoreceive,transmitandcontainfluids,particularlysuper-criticalordensephaseCO2,includingareasorzonesforexpansionandmigrationoftheCO2plumedefinedbythereservoirmodelling.GeologicalStorageComplexThegeologicalstoragecomplexconsistsofthegeologicalreservoir,andeitheranoverlyingimpermeableseal(orcaprock)whichpreventstheescapeofthefluidsorotherreliabletrappingmechanisms.IntermediateStorageIntermediatestorageincludestheprocessesandequipmentonasitethatenablestemporarystorageofCO2intransit,duringthetransferofCO2fromonemodeoftransporttoanother(e.g.,transferofCO2fromapipelinetotransportbyship).MandatoryMonitoringPointThelocationswhereequipmentisrequiredtobeinplacetomeasurethevolumeofCO2ModeofTransportReferstohowCO2canbemovedfromanentrypoint(e.g.,acapturesite)toapointofdelivery(e.g.,othermodesoftransportorstorage).ThistypicallyincludesCO2transportbypipelines,ships,rail,and/ortrucksNon-condensableGasNon-condensablegasesaregasesthatdonotcondensateintotheliquidphasewithintheoperatingtemperatureofasystem.Theyarerelevantforgeothermalpower/heatplantsNon-VCS-CO2TheCO2capturedoutsidetheprojectboundaryofaCCSprojectactivityregisteredunderVCSthatisconditioned,transported,orstoredusing(someof)thefacilitiesoftheregisteredCCSprojectactivity.Methodology:VCSVersion4.07Oxy-fuelCombustionFossilfuelcombustioninanoxygen-richenvironmentincreasestheCO2concentrationoftheresultingfluegases.Afterthiscombustion,CO2canbecapturedfromthefluegas(seepost-combustioncapture).PointSourceTheanthropogenicemissionsourceatanidentifiablegeographicalpoint(e.g.,astack,ventingvalve,etc.).Thetermislimitedtostationarysources.Post-combustionCapturePost-combustioncarboncapturereferstocapturingCO2fromexhaustgasstreamsafterthecombustionoffuelscontainingcarbon.Pre-combustionCapturePre-combustioncapturereferstoremovingcarbondioxidefromfuelsbeforecombustion.Itseparatescarbondioxidetypicallyfromagasificationandreformingprocess.SalineAquiferAnundergroundwatersourcewithtotaldissolvedsolidsgreaterthan3,000mg/L.SolventSolvent-basedCO2captureinvolvesthechemicalorphysicalabsorptionofCO2fromfluegasintoaliquidcarrier.SorbentSorbent-basedCO2captureinvolvesthechemicalorphysicaladsorptionofCO2usingasolidsorbent.SourceFacilityThefacility(e.g.,powerplant)whereCO2isgeneratedandfromwhereCO2iscaptured.AsourcefacilitymightbefurtherdistinguishedbydifferentprocessesgeneratingCO2(e.g.,acaptivepowerplantandachemicalplantatonefacilityeachgeneratingCO2)orintoseveralunitsofthesameprocess(e.g.,severalanaerobicdigestersatonefacilityfromwhichCO2canbecaptured).StorageFacilityAnyfacilityusedforgeologicalstorageofCO2SupercriticalCO2AstateofCO2whenthepressureandtemperatureareabovetheircriticalvalues.Thecriticaltemperatureofagasisthetemperatureabovewhichthegascannotbeliquefiedatanypressure.ThistemperatureforpureCO2is31.11°C(88°F).Criticalpressureisrequiredtoliquefythegasatitscriticaltemperature.ThecriticalpressureforpureCO2is7.39MPa(1072psi).Methodology:VCSVersion4.08TransportFacilityAnyfacilitiesusedtotransportCO2TransportofCO2Anetwork,singlepipeline,oranyothermodeoftransportthathasbeenpurpose-builttotransportCO2,orwhichisexistingbutdedicatedtoandauthorizedforthetransportofCO2TransportSegmentAportionofaCO2transportationsystemthatconnectsacapturefacilitytointermediatestorage,othertransportsegments,intermediatestoragefacilitiesandstoragefacilities.Transportsegmentshaveonemodeoftransport.VCS-CO2TheCO2captured,transported(asapplicable),andstoredinsidetheprojectboundaryofaproposed/registeredCCSprojectundertheVCSProgram4APPLICABILITYCONDITIONSThismethodologyisgloballyapplicabletoprojectactivitiesthatcaptureatmosphericCO2orCO2frompointsourcesatasourcefacilityandstoreitsafelyandpermanentlyingeologicalstoragecomplexes.Thismethodologyisapplicableunderthefollowingconditions:1.Projectactivitiesmustincludeatleastoneeligiblecaptureactivityandatleastoneeligiblestorageactivity.ProjectactivitiesmusttransporttheprojectCO2streamtostoragesitesthatarenotco-locatedorarenotadjoiningthecapturesitesusinganeligibletransportactivity.2.TheeligibleCO2captureactivitiesinclude:oDirectAirCapture(DAC)asdefinedinVMD00XX:CO2CapturefromAir(DirectAirCapture);oPost-combustioncapturefrompowerplants,heatgenerationoperations,orCombinedHeatandPower(CHP)unitsbasedonfossilfuelcombustionorbasedongeothermalenergyasdefinedinVMD00XX:CO2CapturefromFossilFuelorGeothermalBasedPowerandHeatGeneration;oFluegascapturefromindustrialprocessesincludingthechemicalindustry,mineralproduction,steelproduction,cementplants,andhydrogen(H2)production,asdefinedinVMD00XX:CO2CapturefromIndustrialProcesses;oFluegascapturefromoilandgasproductionandprocessingincludingthecaptureofnativeCO2,acidgasremoval,andLiquifiedNaturalGas(LNG)Methodology:VCSVersion4.09productionasdefinedinVMD00XX:CO2CapturefromOilandGasProductionandProcessing;oroCapturefrombiogenicsources,includingthecaptureofCO2frombiomasscombustion(directorindirect)orbiofuelproductionprocesses(e.g.,biogasorethanolproduction)asdefinedinVMD00XX:CO2CapturefromBiogenicSources(BECCS).3.Theeligibletransportactivitiesincludeintermediatestoragefacilitiesandtransportbypipeline,ship/barge,rail,andtrucksasdefinedinVMD00XX:ModuleforCO2Transport.4.TheeligiblestorageactivitiesincludestorageinsalineaquifersasdefinedinVMD00XX:CO2StorageinSalineAquifersordepletedoilandgasreservoirsasdefinedinVMD00XX:CO2StorageinDepletedOilandGasReservoirs.5.CaptureactivitiesmusthaveaconcentratedCO2streamofatleast95%puritydeliveredtothestoragesiteforgeologicsequestration.6.Projectsmustadheretoallapplicableregulationsofthenational/regional/localprojectjurisdictionrelatedtothecapture,transport,andstorageofCO2.7.Wheretheprojectfacilitiesincluderefrigerationsystemsthatutilizeindustrialrefrigerants,theymust:oOnlyuserefrigerantsthatarenotcontrolledsubstancesundertheMontrealProtocol(e.g.,HCFCs)orundertheKigaliAmendment(e.g.,HFCs);andoHaveaglobalwarmingpotential(GWP)below5.Thismethodologyisnotapplicableforprojectactivitiesthat:•UtilizecapturedCO2asafeedstockforproductsorservices(i.e.,carboncaptureandutilization);•CaptureandstoreCO2throughenhancedweathering,carbonmineralization,biocharproduction,oroceanalkalinityenhancement;•DivertCO2streamsfromotherstorageorutilizationactivities;•ProduceCO2forthepurposeofcapturingit;•ExtractCO2fromageologicformationforthepurposeofcapturingit;or•Reduceenergy-relatedemissionsfromanexistingCCSactivity,throughtechnologyimprovement,operationalimprovement,ashiftinthemodeoftransportation,oraswitchtolesscarbon-intensiveenergysources.Themodulesusedwiththismethodologyprovidemoreapplicabilityconditions.Underthismethodology,onlyCO2streamscapturedusingthefollowingactivitiesareapplicabletogenerateremovals:•ActivitiesthatcomplywithVMD00XX:CO2CapturefromAir(DirectAirCapture);orMethodology:VCSVersion4.010•ActivitiesthatcomplywiththecriteriaprovidedbyVMD00XX:CO2CapturefromBiogenicSources(BECCS).5PROJECTBOUNDARYThespatialextentoftheprojectboundaryconsistsofthesites,leases,rights-of-way,areasofreview,andotherlandareasneededtooperateandmonitortheproject.Thismayincludemultiplecapturefacilities,modesoftransport,andstoragesites.Theprojectboundaryencompassesallmoduleboundariesdefinedintherespectivecapture,transport,andstoragemodulesofthemethodologyframeworkrelevanttotheprojectactivity.Moduleboundariesdonotoverlap,donothavegaps,andaredefinedineachrespectivemodule:•Forcapture:oVMD00XX:CO2CapturefromAir(DirectAirCapture)oVMD00XX:CO2CapturefromFossilFuelorGeothermalBasedPowerandHeatGenerationoVMD00XX:CO2CapturefromIndustrialProcessesoVMD00XX:CO2CapturefromOilandGasProductionandProcessingoVMD00XX:CO2CapturefromBiogenicSources(BECCS)•Fortransport:oVMD00XX:ModuleforCO2Transport•Forstorage:oVMD00XX:CO2StorageinSalineAquifersoVMDOOXX:CO2StorageinDepletedOilandGasReservoirsForprojectactivitiesthatcaptureCO2fromasourcefacility,theprojectboundaryincludestheelementsofthesourcefacilitythataredirectlyaffected,modified,oraddedtocaptureCO2(e.g.,equipmentforfluegascapture).Otherwise,thesourcefacilityisnotincludedintheprojectboundary.TheprojectboundaryisillustratedinFigure1.Methodology:VCSVersion4.011Figure1:ProjectActivityBoundaryThismethodologyanditsassociatedmodulesdifferentiateprimaryeffects1onGHGsourcesandsinksthattheproponenthascontrolover,andsecondaryeffectsonGHGsourcesandsinks,whicharerelatedto,oraffectedbytheproject.AsecondaryeffectisanunintendedGHGemissionsourceorsink,relatedto,oraffectedbytheproject.Itistypicallyoff-siteandsmallrelativetoaprojectactivity’sprimaryeffect.GHGsources,sinksandreservoirswithintheprojectboundaryandcontrolledbytheprojectincludetheprimaryeffects:•CO2capture,transport,andstorage;•Fuelcombustion;•Electricityandheatinputs(includinggridelectricity,onsitegenerationanddirectlyconnectedoffsitegeneration);and•Processemissions(e.g.,ventingandfugitives).1Asdefinedin“TheGHGProtocolforProjectAccounting”,publishedbytheWorldBusinessCouncilforSustainableDevelopment(WBCSD)andtheWorldResourcesInstitute(WRI)Methodology:VCSVersion4.012GHGsourcesandsinksrelatedto,oraffectedbytheprojectaresecondaryeffectsandareconsideredleakageandinclude:•Upstreamfuelproductionandtransportemissionsincludingsucheffectsinfuelconsumptionforelectricitygeneration;•Materialinputsandconsumables(e.g.,chemicals)foroperation;and•Decommissionanddisposalactivitiesforequipmentandmaterials.MaterialitythresholdThematerialitythresholddetermineswhichemissionsarematerialandareeitherincludedintheGHGquantificationorexcluded.Aleakagesourceshouldbeincludedinthequantificationifitisestimatedtobeover2%ofthenetprojectemissionreductionsandremovalsovertheanticipatedtypicalprojectlifetime.Thefollowingleakagesourcesareexcluded:•Productionandtransportofequipmentandmaterialsusedforconstructionofprojectfacilities;•Researchanddevelopmentactivities;•Staffcommuting;•Directandindirectlandusechangeasaresultofconstructionandoperationofprojectfacilitiesandequipment.TheGHGsourcesincludedorexcludedfromtheprojectboundaryareshowninTable1.MoredetailsofGHGsourcesandsinksareprovidedinthecapture,transport,andstoragemodules.Table1:GHGSourcesIncludedorExcludedfromtheProjectBoundarySourceGasIncluded?Justification/ExplanationBaselineCO2sourcefacilitiesortheatmosphereCO2YesCO2capturedandinjectedCH4NoOnlyCO2isincluded.Thisisconservative.N2ONoOnlyCO2isincluded.Thisisconservative.OtherNoOnlyCO2isincluded.Thisisconservative.ProjectCO2capturesiteCO2YesMajorsource.Detailsareprovidedineachcapturemodule.CH4YesMajorsource.Detailsareprovidedineachcapturemodule.N2OYesMajorsource.Detailsareprovidedineachcapturemodule.OtherNoNegligibleMethodology:VCSVersion4.013SourceGasIncluded?Justification/ExplanationCO2transportfacilityCO2YesMajorsource.Detailsareprovidedineachtransportmodule.CH4YesMajorsource.Detailsareprovidedineachtransportmodule.N2OYesMajorsource.Detailsareprovidedineachtransportmodule.OtherNoNegligibleCO2storagesiteCO2YesMajorsource.Detailsareprovidedineachstoragemodule.CH4YesMajorsource.Detailsareprovidedineachstoragemodule.N2OYesMajorsource.Detailsareprovidedineachstoragemodule.OtherNoNegligible6BASELINESCENARIOThismethodologyusesaprojectmethodtodeterminethecreditingbaselinescenario.Theeligiblebaselinescenariosunderthismethodologyare:•ForCO2capturedfrompointsources:theCO2capturedundertheprojectactivitywouldbeemittedtotheatmosphereintheabsenceoftheprojectactivity.•ForCO2capturedfromtheatmosphere:theCO2capturedundertheprojectactivitywouldnotbecapturedintheabsenceoftheprojectactivity.Thecapturemodulesprovidefurtherproceduresandrequirementsforidentifyingthebaselinescenario.Thebaselinescenarioappliesto:•Greenfieldcapturefacilities;•Theadditionorexpansionofcapturefacilitiesatlocationswherecapturefacilitiesexisted;and•Therefurbishmentofcapturefacilitiesthatwouldhavebeendecommissionedintheabsenceoftheproject.CO2streamswithadifferentbaselinescenarioqualifyasnon-VCS-CO2.Methodology:VCSVersion4.0147ADDITIONALITYThismethodologyusestheprojectmethodtoassessadditionality.Todemonstrateadditionality,Steps1to3outlinedbelowmustbeapplied.Step1:RegulatorySurplusProjectproponentsmustdemonstrateregulatorysurplusinaccordancewiththerulesandrequirementsofregulatorysurplussetoutinthelatestversionoftheVCSMethodologyRequirements.Theregulatorysurpluscheckmustconsiderthelaws,statutes,regulatoryframeworks,andpoliciesapplicableinthejurisdictionofthecapturesite.Step2:ImplementationBarrierProjectproponentsmustdemonstratethattheyfaceaninvestmentbarrier(i.e.,capitalorinvestmentreturnconstraints)thatwouldpreventtheprojectfrombeingimplementedintheabsenceofcarboncreditrevenues.Toanalyzetheinvestmentbarrier,projectsmustconductaninvestmentanalysisasperstep2inthelatestversionofCDMTool01“Toolforthedemonstrationandassessmentofadditionality”andCDMTool27“InvestmentAnalysis”followingOptionIII.Applythebenchmarkanalysis.Thefollowingmustbefollowedfortheinvestmentanalysis:1)Theassessmentmustbedonefromtheperspectiveofthecaptureactivity.Transportandstorageactivitiesmustbetreatedascoststothecaptureactivity.Thisappliestoboth:a)Projectswithdiverseoperatorshipwherecostsmaybeincurredasrealfeesfromtransportandstoragesiteoperators,andb)verticallyintegratedprojects,wherecapitalandoperatingcostsofthetransportandstoragesite(s)mustbeinternallyaccountedbytheproponent.2)Revenues(e.g.,asaresultofsubsidiespaidbygovernments)fromcapture,transport(ifapplicable)andstorageactivitiesmustbeincorporatedintotheinvestmentanalysis(e.g.,afeepertonofCO2transportedand/orstored),regardlessoftheowner/operatoroftransportandstoragefacilities.3)Wheresharedinfrastructureisrelevanttotheeconomicsofaproject,costsorrevenuesmustreflecttheestimated(orcontracted,ifavailable)usagerateoftransportandstoragebyeachcaptureactivity(e.g.,ifacaptureactivityuses10%ofthetransportandstoragecapacity,thecostsmustbeproratedandnotreflecttheentirecostoftransportandstorage).4)Whenmultiplecaptureactivitiesexist,theinvestmentanalysismustconsiderallcaptureactivitiesintheprojectindemonstratingtheexistenceofaninvestmentbarrier.Methodology:VCSVersion4.0155)Whenaprojecthasundersubscribedtransportationand/orstorageusageatthetimeoftheinvestmentanalysis,theexpectedusagerate,feestructureandreturnoninvestmentmustbeusedasinputs.6)Revenueandindirectfinancialbenefits(e.g.,savings)attheCO2sourcefacilitiesmustbeaccounted.Thisisregardlessofwhethertheoperatorsofsourcefacilitiesandoperatorsofcapturefacilitiesarethesameentity.Examplesinclude:a)Savingsfromavoiding/reducingthepaymentofcarbontaxorotherfines/levies;b)RevenuegenerationbasedontheforecastedvalueofemissionsallowancesgrantedtotheprojectactivityforperiodswhenVCUsarenotissued(VCUsmaynotbeissuedforthesameemissionreductionorremovalbenefitifemissionsallowancesarealsogranted);c)Savingsfromavoidingorreducingcostsfor(flue)gascleaning;7)PaymentsfromthecapturefacilitiestothesourcefacilitiesfortheCO2capturedarenotconsideredcostsintheinvestmentanalysis.8)Fundingfromgovernmentsorotherinstitutionsintheformofgrants,taxcredits,concessionalloans,guarantees,contractsfordifference,negativeemissionpayments,orothersubsidies(allhereinreferredtoaspublicsupportmechanisms)mustbereflectedasrevenues,savings,orinthedeterminationofthebenchmarkasapplicable.However,suchpublicsupportmechanismsfromgovernmentsshouldnotbeconsideredinthefinancialadditionalityanalysisif:a)Thegovernmentrequirestheproponenttotrytogenerateandsellcarboncreditsasaconditionforthepublicsupportmechanism;andb)Thecarboncreditrevenue(inwholeorpart)displacesfundsthatwouldhaveotherwisebeenprovidedtotheprojectfromthepublicsupportmechanism.9)Forprojectswithnon-VCSCO2,furtherguidanceontheinvestmentanalysisisprovidedintheVMT00XX:ToolforBaselineQuantificationandAllocationofProjectEmissionsinProjectswithVCSandnon-VCS-CO2flowsinCarbonCaptureandStorageProjectsSelectionandvalidationofappropriatebenchmarkWhereinternalcompanybenchmarks/expectedreturnsareused,thesemustreflecttheriskassociatedwithinvestingin:•technologiesthatarenotmature,andwhoseperformanceinthefield,inspecificapplications,hasyettobeprovenanddocumentedatthetimethedecisiontoinvestintheprojectistaken.•activitiesapplyingtechnologiesthatarenotmatureandarehighlycapital-intensive,Methodology:VCSVersion4.016•activitieswheredifferenttechnologiesandprocessesarecombinedinwaysthatresultinasystemofconsiderablecomplexitythathasnotbeenimplementedatacommercialscaleinanymarket,and•businessmodelswithlimitedexperience.Theinternalcompanybenchmarks/expectedreturnsappliedinthepastbythecompanytoassessinvestmentswithsimilarriskstotheprojectactivitymaybeapplied.Forexample,investmentsinprioractivitieswherethematurityofthetechnology/experienceatthetimetheinvestmentanalysiswascarriedoutwaslow/verylimited;investmentsinprioractivitieswherenew,untestedbusinessmodelsareintroduced,etc.Ifthecompanyhasnopriorexperienceinundertakingprojectswithtechnologies/businessmodelswithsimilarrisksasthoseposedbytheprojectactivity,then,thelevelofreturnsexpectedfromventurecapitalinvestmentsmaybeusedasaproxyforthereturnsexpectedwhenapplyingtheInvestmentAnalysisfortheprojectactivity.Aninvestmentreturnvalueof21%isacceptedunderthismethodology2.Contingenciesforoperatingandmaintenance(O&M)costsContingencycostsaccountforcoststhatcannotbeanticipated/forecastedwhenapplyingtheinvestmentanalysistool.Estimatedcontingencycostsareexpressedasapercentage(%)oftheO&Mcostsusedfortheinvestmentanalysiscompletedforthecomparableprioractivity.Oneofthefollowingoptionsmustbeusedtodeterminesuchcostsinthecontextofoperatingandmaintenance(O&M)costsintheprojectactivity:Option1:Referencepreviouslyestimatedcontingencycostsfromotheractivitiestheproponenthasdonewithacomparableleveloftechnologicalmaturityandrisktotheprojectactivity,atthetimetheothercomparableprioractivitywasatfinalinvestmentdecision.Option2:Referenceactualhistoricalcontingencycostsincurredwhenimplementingotheractivitiestheproponenthasdoneusingtechnologieswithsimilarlevelsofmaturityandrisktotheprojectactivity.ThecontingencycostsarecalculatedbysubtractingtheO&Mcostsincurredoveragivenperiodoftime,fromtheO&Mcoststhatwereestimatedforthesameperiodoftime.TheestimatedO&Mcostsmustbefrombackgroundworksuchasfeasibilitystudiesusedtoinformtheinvestmentdecisions.Option3:Useotherapproachesthathavebeenappliedinarelevantindustrialsector(i.e.relatedtotheapplicablesourcefacilities)todeterminecontingencycosts,withamaximumvalueforthisoptionat15%.Step3:CommonPractice2Basedon:Zider,Bob(1998),HowVentureCapitalWorks.HarvardBusinessReview.pp.133,availableat:http://www.mengwong.com/school/HarvardBusinessReview/how_venture_works.pdfMethodology:VCSVersion4.017Theprojectmustnotbecommonpractice,determinedforeachcaptureactivityincludedoraddedasexpansionasfollows:1)Theprojecttypemustnotbecommonpracticeintherespectivesectorandcountry.•Commonpracticeisdefinedastheprojectactivityimplementedinmorethan20%ofcomparablesourcefacilitiesinthesectorandcountry.•Similarprojectactivitiesundervalidation,submittedforregistrationorregisteredunderanyGHGcreditingprogramcanbeexcludedfromthecommonpracticeanalysis.•Thesectorreferstothesourcefacilitysector(e.g.,fossilfuelorgeothermal-basedpowerandheatgeneration,industrialprocesses,oil&gasproductionandprocessing,bioethanolproduction,orbiomasspowerandheat).•DACCSmaybeconsiderednotcommonpracticebydefault,asthereisnosourcefacility.•Whenmultiplesourcefacilitiesareusedbyaproject,eachwouldrepresentadifferentsectorandrequirearespectivecommonpracticeassessment.•Ifdifferenttypesofcapturefacilitiesareincludedintheproject,acommonpracticeassessmentisrequiredforeach.2)Wheresimilaractivitiesexist,theprojectproponentmustidentifybarriersfacedcomparedwithexistingprojectstounderpintherisks,costs,and/orlimitationstoregularadvancementoftheprojectactivitytodemonstratethatthisisnotcommonpracticefortheprojectactivity.GuidanceforthecommonpracticeassessmentisprovidedbytherespectivecapturemodulesandinTheGHGProtocolforProjectAccounting,Chapter7(WRI-WBCSD).Projectsthatdemonstrateregulatorysurplus,animplementationbarrierandarenotcommonpracticeareadditional.8QUANTIFICATIONOFGHGEMISSIONREDUCTIONSANDREMOVALSThissectionestablishesoverarchingquantificationapproachesforGHGemissionreductionsand/orremovals.Inaddition,theapproachesandequationsinthecapture,transport,andstoragemoduleslistedinSection1thatarerelevanttotheprojectactivityapply.8.1BaselineEmissionsBaselineemissionsarecalculatedasperEquation(1):Methodology:VCSVersion4.018𝐵𝐸𝑦=∑𝑄𝐶𝑂2,𝑖𝑛𝑗𝑒𝑐𝑡𝑒𝑑,𝑖,𝑦𝑖−∑𝑄𝐶𝑂2,𝑛𝑜𝑛𝑉𝐶𝑆,𝑖𝑛𝑗𝑒𝑐𝑡𝑒𝑑,𝑖,𝑦𝑖(1)Where:𝐵𝐸𝑦=Baselineemissionsinyeary(tCO2e)𝑄𝐶𝑂2,𝑖𝑛𝑗𝑒𝑐𝑡𝑒𝑑,𝑖,𝑦=MassofCO2injected(tCO2)andmonitoredatinjectionpointiinyearyatthestoragesite(s).ForDACandBECCS,thisequalsthemassofatmosphericorbiogenicCO2thatwouldhaveremainedintheatmosphereplusthemassofanyfossilfuelCO2co-capturedaspartoftheprocess.𝑄𝐶𝑂2,𝑛𝑜𝑛𝑉𝐶𝑆,𝑖𝑛𝑗𝑒𝑐𝑡𝑒𝑑,𝑖,𝑦=Massofnon-VCS-CO2(tCO2)injectedatinjectionpointiinyearyatthestoragesite(s).Ifapplicable,determinedasperthelatestversionofVMT00XX:ToolforbaselinequantificationandallocationofprojectemissionsinprojectswithVCSandnon-VCS-CO2flowsinCarbonCaptureandStorageprojects.ThisincludesanyCO2streamsoriginatingatcapturefacilitiesforwhichavalidbaselinescenariocannotbedemonstrated.Thisparameterequalszerowhenthereisnonon-VCS-CO2enteringtheprojectboundary.Flowmeasurementsmustbeperformedusingeithervolumetricflowmetersormassflowmeters.8.1.1MethodsforCO2measurementThissubsectionprovidesmethodsandguidance3formeasuringtheamountofCO2injectedforsafeandpermanentstorage.ThesamemethodsapplyformeasuringtheamountofCO2eithercaptured,transported,received,orleavingtheprojectboundaryasapplicable.ForsupercriticalphaseCO2,thevolumetricflowratemeasurementcanbeinaccurateduetoimpurities.TodeterminetheamountofsupercriticalCO2,aprojectactivitymusteitheruseamassflowmeterwhilemeasuringtheconcentrationofCO2inthestreamoruseavolumetricflowmeterwhilemeasuringtheconcentrationofallimpuritiesinthestreamthataregreaterthan0.25%(2500ppm)bymolefraction.8.1.2MeasurementbasedonMassFlowRateTodeterminethequantityofCO2usingmassflowratemeasurements,theproponentmustmultiplythemassflowratebytheconcentrationofCO2inthatflowasperEquation(2)below.3TheguidanceinthissectionisbasedontheUSEPA’sGeneralTechnicalSupportDocumentforInjectionandGeologicStorageofCO2underSubpartRRandUUoftheGHGRP,Section3.MonitoringMethodsforCO2ReceivedandCO2Injected.Methodology:VCSVersion4.019𝑄𝐶𝑂2,𝑥=𝐹𝑅𝑚𝑎𝑠𝑠,𝑥∗%𝐶𝑂2𝑚𝑎𝑠𝑠,𝑥(2)Where:𝑄𝐶𝑂2,𝑥=MassofCO2(tCO2)injected,captured,transported,received,orleavingtheprojectboundaryasapplicable𝐹𝑅𝑚𝑎𝑠𝑠,𝑥=Massflowmeasuredbymassflowmeterx(tonnes)%𝐶𝑂2𝑚𝑎𝑠𝑠,𝑥=MassfractionofCO2inflowatflowmeterx(%mass)ThemassfractionusedinEquation(2)mustbederivedfromthemolefraction(XCO2)measuredbysamplingasperEquation(3).%𝐶𝑂2𝑚𝑎𝑠𝑠,𝑥=𝑀𝐶𝑂2∗𝑋𝐶𝑂2∑𝑀𝑘∗𝑋𝑘𝑛𝑘=1(3)Where:%𝐶𝑂2𝑚𝑎𝑠𝑠,𝑥=MassfractionofCO2inflowatflowmeterx(%mass)𝑀𝐶𝑂2=MolarmassofCO2𝑋𝐶𝑂2=MolefractionofCO2inflowatflowmeterx(%mole)𝑀𝑘=Molarmassofcomponentk𝑋𝑘=Molefractionofcomponentkinflowatflowmeterx(%mole)n=Numberofcomponentsinthemixturewithamolefractiongreaterthan0.5%(5000ppm)8.1.3MeasurementbasedonVolumetricFlowRateAlternatively,ameasuredvolumetricflowrateandcorrespondingdensitycanbeusedtodeterminetheCO2massforaproject.ThisisachievedbymultiplyingthevolumetricflowrateatStandardTemperatureandPressure4(STP)bytheconcentrationofCO2intheflowandbythedensityofCO2atSTPasperEquation(4).𝑄𝐶𝑂2,𝑥=𝐹𝑅𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)∗%𝐶𝑂2𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)∗𝜌𝐶𝑂2𝑥(𝑆𝑇𝑃)(4)Where:𝐹𝑅𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)=VolumetricflowratemeasuredbyflowmeterxatactualconditionsandconvertedtoSTPconditions(m3)4STPmustbeselectedanddefinedbytheprojectproponentsaspertheindustrypracticeintheirgeographicallocation.Methodology:VCSVersion4.020%𝐶𝑂2𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)=VolumetricfractionofCO2inflowatflowmeterxatSTPconditions(%volume)𝜌𝐶𝑂2𝑥(𝑆𝑇𝑃)=DensityofCO2atSTPconditions(tCO2/m3)ThevolumetricCO2fractionmustbederivedfromthemolefraction(XCO2)measuredbysamplingandevaluatedatSTPasshowninEquation(5).%𝐶𝑂2𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)=𝑋𝐶𝑂2∑𝑋𝑘𝑛𝑘=1(5)Where:%𝐶𝑂2𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)=VolumetricfractionofCO2inflowatflowmeterxatSTPconditions(%volume)𝑋𝐶𝑂2=MolefractionofCO2inflowatflowmeterx(%mole)𝑋𝑘=Molefractionofcomponentkinflowatflowmeterx(%mole)n=Numberofcomponentsinthemixturewithamolefractiongreaterthan0.5%(5000ppm),orforsupercriticalconditionsgreaterthan0.25%(2500ppm)Usingtheoperatingtemperatureandpressure,theactualvolumeofCO2canbeconvertedintoSTPconditionsasperEquation(6).𝐹𝑅𝑣𝑜𝑙,𝑥(𝑆𝑇𝑃)=𝐹𝑅𝑣𝑜𝑙,𝑥(𝑃,𝑇)∗𝜌𝑥(𝑃,𝑇)𝜌𝑥(𝑆𝑇𝑃)(6)Where:𝐹𝑅𝑣𝑜𝑙,𝑥(𝑃,𝑇)=Volumetricflowratemeasuredbyflowmeterxatactualconditions(m3)𝜌𝑥(𝑃,𝑇)=DensityofCO2atactualconditions(tCO2/m3)8.2ProjectEmissionsTheoverarchingequationforprojectemissionsisasperEquation(7):𝑃𝐸𝑦=𝑃𝐸𝐶𝑎𝑝,𝑦+𝑃𝐸𝑇𝑟𝑎,𝑦+𝑃𝐸𝑆𝑡𝑜,𝑦(7)Where:Methodology:VCSVersion4.021𝑃𝐸𝑦=Projectemissionsinyeary(tCO2e)𝑃𝐸𝐶𝑎𝑝,𝑦=ProjectemissionfromCO2captureintheyeary(tCO2e)𝑃𝐸𝑇𝑟𝑎,𝑦=ProjectemissionsfromCO2transportinyeary(tCO2e)𝑃𝐸𝑆𝑡𝑜,𝑦=ProjectemissionsfromCO2storageinyeary(tCO2e)Quantificationproceduresforprojectemissionsfromcapture,transportandstorageareestablishedundertherespectivemoduleslistedinSection1.8.3LeakageTheoverarchingequationforleakageemissionsisasperEquation(8):𝑃𝐸𝑦=𝑃𝐸𝐶𝑎𝑝,𝑦+𝑃𝐸𝑇𝑟𝑎,𝑦+𝑃𝐸𝑆𝑡𝑜,𝑦(8)Where:𝐿𝐸𝑦=Leakageemissionsinyeary(tCO2e)𝐿𝐸𝐶𝑎𝑝,𝑦=LeakageemissionfromCO2captureintheyeary(tCO2e)𝐿𝐸𝑇𝑟𝑎,𝑦=LeakageemissionsfromCO2transportinyeary(tCO2e)𝐿𝐸𝑆𝑡𝑜,𝑦=LeakageemissionsfromCO2storageinyeary(tCO2e)Quantificationproceduresforleakageemissionsfromcapture,transportandstorageareestablishedundertherespectivemoduleslistedinSection1.8.4EmissionReductionsandRemovalsEmissionreductionsoremissionremovalsaregenerallycalculatedasperEquation(9):𝐸𝑅𝑦=𝐵𝐸𝑦−𝑃𝐸𝑦−𝐿𝐸𝑌(9)Where:𝐸𝑅𝑦=Emissionsreductionsorremovalsinyeary(tCO2e)𝐵𝐸𝑦=Baselineemissionsinyeary(tCO2e)𝑃𝐸𝑦=Projectemissionsinyeary(tCO2e)𝐿𝐸𝑦=Leakageemissionsinyeary(tCO2e)Projectsthatgenerateboth,emissionreductionsandremovalsmustfollowthelatestversionofVMD00XX:DifferentiationbetweenemissionreductionsandremovalsinCarbonCaptureandStorageProjects.Methodology:VCSVersion4.0229MONITORING9.1DataandParametersAvailableatValidationAdditionaldataandparametersaredefinedintherespectivecapture,transport,andstoragemodulesandrelatedtools(VCSandCDM)asapplicable.Data/ParameterTSTPDataunitKDescriptionTemperatureatSTPEquations(4),(5),(6)SourceofdataIndustrypracticeValueappliedN/AJustificationofchoiceofdataordescriptionofmeasurementmethodsandproceduresappliedStandardTemperatureandPressuremustbedefinedtoallowtheconversionofvolumetricflowfromoperatingtostandardconditionsPurposeofDataCalculationofbaselineandprojectemissionsCommentsProjectdescriptionmustclearlyidentifywhatstandardtemperatureisusedasreference.Data/ParameterPSTPDataunitPaDescriptionPressureatSTPEquations(4),(5),(6)SourceofdataIndustrypracticeValueappliedN/AJustificationofchoiceofdataordescriptionofmeasurementmethodsandproceduresappliedStandardTemperatureandPressuremustbedefinedtoallowtheconversionofvolumetricflowfromoperatingtostandardconditionsMethodology:VCSVersion4.023PurposeofDataCalculationofbaselineandprojectemissionsCommentsProjectdescriptionmustclearlyidentifywhatstandardpressureisusedasreference.Data/Parameter𝜌𝑥(𝑆𝑇𝑃)DataunittCO2/m3DescriptionDensityofCO2atSTPEquations(4),(6)SourceofdataIndustrypracticeadoptinginternationallyaccepteddatasetsfollowingequationofstatesasapplicable,e.g.,SpanandWagner(forfurtherinformationseeNationalInstituteofStandardsandTechnology(NIST)availableathttps://webbook.nist.gov/chemistry/fluid/orsimilar.ValueappliedN/AJustificationofchoiceofdataordescriptionofmeasurementmethodsandproceduresappliedDensitydependsontemperatureandpressureasdefinedunderSTPconditionsPurposeofDataCalculationofbaselineandprojectemissionsCommentsProjectdescriptionmustclearlyidentifywhatstandardtemperatureisusedasreference.Data/Parameter𝑀𝐶𝑂2Dataunitg/molDescriptionMolarmassofCO2Equations(3)SourceofdataCDMTOOL06:Methodologicaltool:Projectemissionsfromflaring,Version04.0Valueapplied44.0095JustificationofchoiceofdataordescriptionofmeasurementmethodsandproceduresappliedAphysicalconstantMethodology:VCSVersion4.024PurposeofDataCalculationofbaselineandprojectemissionsCommentsN/A9.2DataandParametersMonitored.Data/Parameter:TxDataunit:KDescription:ThetemperatureatoperatingconditionsinflowatflowmeterxEquations(6)Sourceofdata:TemperaturemetersDescriptionofmeasurementmethodsandprocedurestobeapplied:Instrumentswithrecordableelectronicsignals(analogicalordigital)arerequired.Examplesincludethermocouples,thermo-resistance,etc.Frequencyofmonitoring/recording:Monitoredcontinuously,i.e.,sametimeintervalasflowratemeasurementQA/QCprocedurestobeapplied:Themeteringequipmentmustbeinstalledandcalibratedinaccordancewitheitherthespecificationsoflocal/nationalstandardsorthemanufacturer'sspecifications.Iflocal/nationalstandardsorthemanufacturerspecificationisnotavailable,internationalstandards(e.g.,IEC,ISO).mustbefollowed.Purposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:AveragevalueoverthesametimeintervalastheflowratemeasurementComments:N/AData/Parameter:PxDataunit:PaMethodology:VCSVersion4.025Description:PressureatoperatingconditionsinflowatflowmeterxEquations(6)Sourceofdata:PressuremetersDescriptionofmeasurementmethodsandprocedurestobeapplied:Instrumentswithrecordableelectronicsignal(analogicalordigital)arerequired.Examplesincludepressuretransducers,etc.Frequencyofmonitoring/recording:Monitoredcontinuously,atleastasfrequentandatthesametimeintervalastheflowratemeasurementQA/QCprocedurestobeapplied:Themeteringequipmentmustbeinstalledandcalibratedinaccordancewitheitherthespecificationsoflocal/nationalstandardsorthemanufacturer'sspecifications.Iflocal/nationalstandardsorthemanufacturerspecificationisnotavailable,internationalstandards(e.g.,IEC,ISO).mustbefollowed.Purposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:AveragevalueoverthesametimeintervalastheflowratemeasurementComments:N/AData/Parameter:FRmass,𝑥Dataunit:TonnesDescription:ThemassmeasuredbymassflowmeterxEquations(2)Sourceofdata:MassflowmetersDescriptionofmeasurementmethodsandprocedurestobeapplied:Massflowratesmustbedeterminedbycommerciallyavailabledevicesthatmeasurethemassflowrateofafluidflowingthroughameasurementchannel.Commontypesofmassflowmetersincludebutarenotlimitedto,Coriolismeters,thermalmeters,impellermeters,andtwinturbinemeters.Frequencyofmonitoring/recording:Monitoredcontinuously,i.e.,onemeasurementatleastevery15minutes.Methodology:VCSVersion4.026QA/QCprocedurestobeapplied:Themeteringequipmentmustbeinstalledandcalibratedinaccordancewitheitherthespecificationsoflocal/nationalstandardsorthemanufacturer'sspecifications.Iflocal/nationalstandardsorthemanufacturerspecificationisnotavailable,internationalstandards(e.g.,IEC,ISO).mustbefollowed.Purposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:Directmeasurement(preferred)orastheaccumulatedmassforeachsamplingintervalofmolefractions(compositionanalysis).Comments:Furtherguidance:USEPA’sGeneraltechnicalsupportdocumentforinjectionandgeologicsequestrationofcarbondioxide:subpartsRRandUUGHGreportingprogramData/Parameter:𝑋𝐶𝑂2Dataunit:%moleDescription:MolefractionofCO2inflowatflowmeterxEquations(3),(5)Sourceofdata:CompositionanalysisDescriptionofmeasurementmethodsandprocedurestobeapplied:Molefractionsmustbedeterminedbycommerciallyavailabledevices.Commonapproachesinclude,butarenotlimitedtoIRspectroscopyandgaschromatography.Frequencyofmonitoring/recording:OptionA:Atleastweekly.OptionB:AtleastmonthlyifusedincombinationwithcontinuousIRspectroscopy(i.e.,measurementintervalofatleastevery15minutes).QA/QCprocedurestobeapplied:Themeteringequipmentmustbeinstalledandcalibratedinaccordancewitheitherthespecificationsoflocal/nationalstandardsorthemanufacturer'sspecifications.Iflocal/nationalstandardsorthemanufacturerspecificationisnotavailable,internationalstandards(e.g.,IEC,ISO).mustbefollowed.Purposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:DirectmeasurementOptionA:Usethelowervalueoftwoconsecutivecompositionanalysestocalculatecontinuous(i.e.,atleastevery15minutes)valuesinbetweenthetwocompositionmeasurements.OptionB:UsevaluesfromIRspectroscopymeasurementsMethodology:VCSVersion4.027Comments:Furtherguidance:USEPA’sGeneraltechnicalsupportdocumentforinjectionandgeologicsequestrationofcarbondioxide:subpartsRRandUUGHGreportingprogramData/Parameter:𝑋𝑘Dataunit:%moleDescription:MolefractionofcomponentkinflowatflowmeterxEquations(3),(5)Sourceofdata:CompositionanalysisDescriptionofmeasurementmethodsandprocedurestobeapplied:MolefractionsmustbedeterminedbycommerciallyavailabledevicesCommontypesofdevicesinclude,butarenotlimitedto,gaschromatography.Frequencyofmonitoring/recording:OptionA:Atleastweekly.OptionB:AtleastmonthlyifusedincombinationwithcontinuousIRspectroscopy(i.e.,measurementintervalofatleastevery15minutes).QA/QCprocedurestobeapplied:Themeteringequipmentmustbeinstalledandcalibratedinaccordancewitheitherthespecificationsoflocal/nationalstandardsorthemanufacturer'sspecifications.Iflocal/nationalstandardsorthemanufacturerspecificationisnotavailable,internationalstandards(e.g.,IEC,ISO).mustbefollowed.Purposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:DirectmeasurementOptionA:Usethelowervalueoftwoconsecutivecompositionanalysestocalculatecontinuous(i.e.,atleastevery15minutes)valuesinbetweenthetwocompositionmeasurements.OptionB:UsevaluesfromIRspectroscopymeasurementsComments:Furtherguidance:USEPA’sGeneraltechnicalsupportdocumentforinjectionandgeologicsequestrationofcarbondioxide:subpartsRRandUUGHGreportingprogramData/Parameter:𝑀𝑘Dataunit:g/molMethodology:VCSVersion4.028Description:MolarmassofcomponentkEquations(3)Sourceofdata:PhysicalpropertytablesDescriptionofmeasurementmethodsandprocedurestobeapplied:N/AFrequencyofmonitoring/recording:TobeupdatedbasedoncomponentskfoundintheCO2streamQA/QCprocedurestobeapplied:N/APurposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:N/AComments:N/AData/Parameter:𝐹𝑅𝑣𝑜𝑙,𝑥(𝑃,𝑇)Dataunit:m³Description:ThevolumetricflowmeasuredbyflowmeterxEquations(6)Sourceofdata:VolumetricflowmetersDescriptionofmeasurementmethodsandprocedurestobeapplied:Volumetricflowratesmustbedeterminedbycommerciallyavailabledevicesthatmeasuretheflowrateofafluidflowingthroughameasurementchannel.Commontypesofflowmetersincludebutarenotlimitedto,rotameters,turbinemeters,orificemeters,wedgemeters,ultra-sonicflowmeters,andvortexflowmeters.Frequencyofmonitoring/recording:Monitoredcontinuously,i.e.,onemeasurementatleastevery15minutes.QA/QCprocedurestobeapplied:Themeteringequipmentmustbeinstalledandcalibratedinaccordancewitheitherthespecificationsoflocal/nationalstandardsorthemanufacturer'sspecifications.Iflocal/nationalstandardsortheMethodology:VCSVersion4.029manufacturerspecificationisnotavailable,internationalstandards(e.g.,IEC,ISO).mustbefollowed.Purposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:Directmeasurement(preferred)orcalculatedastheaccumulatedvolumeforeachsamplingintervalofmolefractions(compositionanalysis).Comments:Furtherguidance:USEPA’sGeneraltechnicalsupportdocumentforinjectionandgeologicsequestrationofcarbondioxide:subpartsRRandUUGHGreportingprogramData/Parameter:𝜌𝑥(𝑃,𝑇)Dataunit:tCO2/m3Description:DensityofCO2atactualconditionsEquations(6)Sourceofdata:Industrypracticeadoptinginternationallyaccepteddatasetsfollowingequationofstatesasapplicable,e.g.,SpanandWagner(forfurtherinformationseeNationalInstituteofStandardsandTechnology(NIST)availableathttps://webbook.nist.gov/chemistry/fluid/orsimilar.Descriptionofmeasurementmethodsandprocedurestobeapplied:Densityisderivedfrommeasurementoftemperatureandpressureatactualconditions.Frequencyofmonitoring/recording:Alignedtothemeasurementof𝐹𝑅𝑣𝑜𝑙,𝑥(𝑃,𝑇)QA/QCprocedurestobeapplied:N/APurposeofdata:CalculationofbaselineandprojectemissionsCalculationmethod:DensityofCO2atactualconditionsComments:TheactualdensityofliquidorsupercriticalphaseCO2dependsstronglyonoperatingconditionsaswellasthestreammixturecomposition.TheavailabletheoreticalmodelstocalculatethedensityofCO2maynotspanallpotentialprocessconditions.TheEPAprovidesagenericprotocoltocalculatethedensityofCO2inliquidorsupercriticalstateatprocessconditionsorconditionsatthepointoftransfer/measurementinthefulltechnicalguidanceunderSection3.2Methodology:VCSVersion4.030Furtherguidance:USEPA’sGeneraltechnicalsupportdocumentforinjectionandgeologicsequestrationofcarbondioxide:subpartsRRandUUGHGreportingprogram9.3DescriptionoftheMonitoringPlanTheprojectproponentmustestablish,maintain,andapplyamonitoringplanandGHGinformationsystemthatincludescriteriaandproceduresforobtaining,recording,compiling,andanalyzingdata,parameters,andotherinformationimportantforquantifyingandreportingGHGemissionsrelevanttotheprojectandbaselinescenarios.Monitoringproceduresmustaddressthefollowing:•Typesofdataandinformationtobereported;•Unitsofmeasurement;•Originofthedata;•Monitoringmethodologies(e.g.,estimation,modeling,measurement,andcalculation);•Typeofequipmentused;•Monitoringtimesandfrequencies;•QA/QCprocedures;•Monitoringrolesandresponsibilities,includingexperienceandtrainingrequirements;•GHGinformationmanagementsystems,includingthelocation,backup,andretentionofstoreddata.•Wheremeasurementandmonitoringequipmentisused,theprojectproponentmustensuretheequipmentiscalibratedaccordingtocurrentgoodpractice(e.g.,relevantindustrystandards).QA/QCproceduresmustinclude,butarenotlimitedto:•Datagathering,input,andhandlingmeasures;•Inputdatacheckedfortypicalerrors,includinginconsistentphysicalunits,unitconversionerrors;•Typographicalerrorscausedbydatatranscriptionfromonedocumenttoanother,andmissingdataforspecifictimeperiodsorphysicalunits;•Inputtimeseriesdatacheckedforunexpectedvariations(e.g.,ordersofmagnitude)thatcouldindicateinputerrors;•Allelectronicfilestouseversioncontroltoensureconsistency;Methodology:VCSVersion4.031•Physicalprotectionofmonitoringequipment;•Physicalprotectionofrecordsofmonitoreddata(e.g.,hardcopyandelectronicrecords);•Inputdataunitscheckedanddocumented;•Allsourcesofdata,assumptions,andemissionfactorsaredocumented.Furthermore,allmonitoringprovisionsrelatedtoGeologicCarbonStorage(GCS)asperthelatestversionoftheVCSProgramDocumentVCSStandardandNon-PermanenceRiskToolforGeologicCarbonStoragemustcomply.Additionalcriteriaandproceduresformonitoringtheprojectareestablishedinrespectivecapture,transport,and/orstoragemodulesandrelatedTools(VCSandCDM).10REFERENCESAmericanCarbonRegistry(2021):Methodologyforthequantification,monitoring,reporting,andverificationofgreenhousegasemissionsreductionsandremovalsfromcarboncaptureandstorageprojects,availableat:https://americancarbonregistry.org/carbon-accounting/standards-methodologies/carbon-capture-and-storage-in-oil-and-gas-reservoirs/acr-ccs-v1-1-new-format.pdfEU(2009),Directive2009/31/ECoftheEuropeanParliamentandoftheCouncilof23April2009onthegeologicalstorageofcarbondioxideandamendingCouncilDirective85/337/EEC,EuropeanParliamentandCouncilDirectives2000/60/EC,2001/80/EC,2004/35/EC,2006/12/EC,2008/1/ECandRegulation(EC)No1013/2006(1).OfficialJournaloftheEuropeanUnion2009;L140:114-35EUCommission(2022):ImpactAssessmentReportPart1/2andPart2/2.AccompanyingdocumentstoProposalforaRegulationoftheEuropeanParliamentandoftheCouncilestablishingaUnioncertificationframeworkforcarbonremovals,EUCommissionStaffWorkingDocument.Brussels.EUR-Lex-52022SC0377-EN-EUR-Lex(europa.eu)ForbesSarahM.;VermaPreeti;CurryThomasE.;FriedmannS.Julio;WadeSarahM.(2008):GuidelinesforCarbonCapture,Transport,andStorage,WorldResourcesInstitute,Washingtonhttps://files.wri.org/d8/s3fs-public/pdf/ccs_guidelines.pdfGlobalCCSInstitute(2020):GlobalStatusofCCS2020,Docklands.https://www.globalccsinstitute.com/wp-content/uploads/2021/03/Global-Status-of-CCS-Report-English.pdfIEA(2021),GlobalEnergyReview2021,IEA,Parishttps://www.iea.org/reports/global-energy-review-2021Methodology:VCSVersion4.032IETA(2022):High-LevelCriteriaforCarbonGeostorageActivities.ProvisionalVersion1.0.PowerPointPresentation(ieta.org)IPCC(2005):IPCCSpecialReportonCarbonDioxideCaptureandStorage.PreparedbyWorkingGroupIIIoftheIntergovernmentalPanelonClimateChange[Metz,B.O.Davidson,H.C.deConinck,M.Loos,andL.A.Meyer(eds.)].CambridgeUniversityPress,Cambridge,UnitedKingdomandNewYork,NY,USA,442pp.Availableat:https://www.ipcc.ch/site/assets/uploads/2018/03/srccs_wholereport-1.pdfInternationalOrganizationforStandardization(2017):ISO/TR27915:2017Carbondioxidecapture,transportation,andgeologicalstorage—Quantificationandverification.Geneva,Switzerland.MikeMcCormick,CenterforClimateandEnergySolutions(2012):AGreenhouseGasAccountingFrameworkforCarbonCaptureandStorageProjects.https://www.c2es.org/wp-content/uploads/2012/02/CCS-framework.pdfU.S.EnvironmentalProtectionAgency(EPA)(2010):GeneralTechnicalSupportDocumentforInjectionandGeologicSequestrationofCarbonDioxide:SubpartsRRandUUGreenhouseGasReportingProgram.OfficeofAirandRadiation.WorldBusinessCouncilforSustainableDevelopmentandWorldResourcesInstitute(2005).TheGreenhouseGasProtocol:TheGHGProtocolforProjectAccounting,availableat:https://ghgprotocol.org/sites/default/files/standards/ghg_project_accounting.pdfZider,Bob(1998):"HowVentureCapitalWorks."HarvardBusinessReview,vol.76,no.6,Nov.-Dec.1998,pp.36-44.HowVentureCapitalWorks(hbr.org),how_venture_works.pdf(mengwong.com)