CO₂ transport and storage potential in the Caribbean Sea, Colombia

Carbon Capture and Storage (CCS) can be a decarbonisation alternative for heavy industry and fossil fuel power plants in the Caribbean region in Colombia. This study assesses the techno-economic potential of transporting and storing CO₂ in the Colombian Caribbean Offshore. A methodological framework was developed to estimate the geological CO₂ storage potential on a basin scale as well as the associated transport and storage costs. The results show that Guajira Basin is the most suitable for CO₂ storage in the study area, with estimated storage resources of 3.2 Gt in the most promising areas. These resources exceed Colombia's yearly emissions, related to industry and power generation, by a factor of 177, indicating ample CO₂ storage potential. The transport and storage costs range between 3.2 and 48 €/tCO₂ depending on the transport option, CO₂ flow rate, source-to-sink distance and type of sink (gas reservoir or aquifer). Shipping is the most expensive alternative among the transport options but can compete with offshore pipelines when distances are longer than 400 km and for 2.5 Mtpa of transported CO₂. This study provides valuable data to industrial emitters and policymakers about the potential of CCS in mitigating emissions in the Caribbean region's heavy industry and power sector, as well as the technology potential in a large-scale deployment scenario.