화학공학소재연구정보센터
홈 로그인 로그아웃 연락처 사이트맵
Korean Journal of Chemical Engineering, Vol.29, No.7, 868-875, July, 2012
DOI10.1007/s11814-011-0266-3  Export Citation
Economic evaluations of direct, indirect and hybrid coal liquefaction
Jong-Soo Bae, In Sung Hwang, Yeong-Jin Kweon, Young-Chan Choi1, Se Joon Park1, Hak-Joo Kim1, Heon Jung1, and Choon Han†
  • Department of Chemical Engineering, Kwangwoon University, 447-1, Wolgye-dong, Nowon-gu, Seoul 139-701, Korea
  • 1Clean Fossil Energy Research Center, Korea Institute of Energy Research, 102, Gajeong-ro, Yuseoung-gu, Daejeon 305-343, Korea
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The various geopolitical problems associated with oil have rekindled interest in coal, with many countries working on projects for its liquefaction. This study established the feasibility of coal liquefaction through a technical and economic examination of direct coal liquefaction (DCL), indirect coal liquefaction (ICL) and hybrid coal liquefaction (HCL) processes. An economic efficiency analysis was prepared involving costs of initial investment, annual operating and raw coal purchase and revenues from the sale of major products as key variables. For the raw materials, products and investments, analyses of net present value (NPV), internal rate of return (IRR) and sensitivity were carried out. The processes’ IRRs were found to be 22.26% (DCL), 18.43% (ICL) and 20.90% (HCL). NPVs were $4.720m (DCL), $3.811 m (ICL) and $4.254 m (HCL), and payback periods were DCL 3.3 years, ICL 4.2 years, and HCL 3.6 years. As a result of the sensitivity analysis, factors greatly affecting the earning potential of coal liquefaction included product prices, raw coal prices, and construction costs, which showed similar effects in each process.
Keywords:Coal to Liquid;Direct Coal Liquefaction;Indirect Coal Liquefaction;Hybrid Coal Liquefaction;Sensitivity;Analysis;Economic Evaluation
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