Designing management strategies for carbon dioxide storage and utilization under uncertainty using inexact modelling

ABSTRACT

Effective application of carbon capture, utilization and storage (CCUS) systems could help to alleviate the influence of climate change by reducing carbon dioxide (CO₂) emissions. The research objective of this study is to develop an equilibrium chance-constrained programming model with bi-random variables (ECCP model) for supporting the CCUS management system under random circumstances. The major advantage of the ECCP model is that it tackles random variables as bi-random variables with a normal distribution, where the mean values follow a normal distribution. This could avoid irrational assumptions and oversimplifications in the process of parameter design and enrich the theory of stochastic optimization. The ECCP model is solved by an equilibrium change-constrained programming algorithm, which provides convenience for decision makers to rank the solution set using the natural order of real numbers. The ECCP model is applied to a CCUS management problem, and the solutions could be useful in helping managers to design and generate rational CO₂-allocation patterns under complexities and uncertainties.

KEYWORDS:

• Bi-random variable
• equilibrium chance
• uncertain
• CCUS
• carbon dioxide

Disclosure statement

No potential conflict of interest was reported by the authors.

Additional information

Funding

This research was supported by the Fundamental Research Funds for the Central Universities [2015ZZD08].