Thoughts on the development of CO2-EGR under the background of carbon peak and carbon neutrality

In September 2020, the Chinese government proposed the goals to reach carbon dioxide emissions peak by 2030 and achieve carbon neutrality by 2060 (“two-carbon goals”). This brings opportunities to the development and application of CO2-enhanced gas recovery (CO2-EGR) in China. To obtain an overall understanding of the development of CO2-EGR under the two-carbon goals, this paper analyzes the significance, potential, status quo and challenges of CO2-EGR, and makes suggestions on the development of CO2-EGR in China. The research results are obtained as follows. First, the development of CO2-EGR plays a crucial role in ensuring China's energy security, accelerating the construction of the clean energy system to promote energy transition and realizing the two-carbon goals as early as possible. Second, China should clarify a path for CO2-EGR development, build a spatial layout of CO2-EGR, and promote digital inclusion in CO2-EGR, enhance the emission reduction role of CO2-EGR in the multi-energy complementary system, boost large scale application of renewable energy and deep decarbonization in the traditional coal industry, which is difficult to reduce carbon emissions. Third, China should draw lessons from European and American tax credit and innovation funds policies to accelerate the construction of a CO2-EGR policy support system. Fourth, China should carry out research on key CO2-EGR technologies to accelerate the construction of a CO2-EGR methodology and standard system and promote rapid and standardized development of the CO2-EGR industry. It is suggested to establish a CO2-EGR demonstration area in the Sichuan Basin and popularize it across China, so as to improve comprehensive economic benefits through the establishment of large-scale industrial clusters. It is concluded that the two-carbon goals bring opportunities to the development of CO2-EGR in China, which will promote gas production and demonstration of CO2 sequestration in gas reservoirs and have positive significance in ensuring energy security and realizing carbon peak and carbon neutrality in China.