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Flare Gas Monetization and Greener Hydrogen Production via Combination with Crypto Currency Mining and Carbon Dioxide Capture


In view of the continuous debates on the environmental impact of blockchain technologies, in particular, crypto currency mining, accompanied by severe carbon dioxide emissions, a technical solution has been considered assuming direct monetization of associated petroleum gas currently being flared. The proposed approach is based on the technology of low-temperature steam reforming of hydrocarbons, which allows flare gas conditioning towards the requirements for fuel for gas piston and gas turbine power plants. The generation of electricity directly at the oil field and its use for on-site crypto currency mining transforms the process of wasteful flaring of valuable hydrocarbons into an economically attractive integrated processing of natural resources. The process is not carbon neutral and is not intended to compete zero-emission technologies, but its combination with technologies for carbon dioxide capture and re-injection into the oil reservoir can both enhance the oil recovery and reduce carbon dioxide emissions into the atmosphere. The produced gas can be used for local transport needs, while the generated heat and electricity can be utilized for on-site food production and biological carbon dioxide capture in vertical greenhouse farms. The suggested approach allows significant decrease in the carbon dioxide emissions at oil fields and, although it may seem paradoxically, on-site cryptocurrency mining actually may lead to a decrease in the carbon footprint. The amount of captured CO2 could be transformed into CO2 emission quotas, which can be spent for the production of virtually “blue” hydrogen by steam reforming of natural gas in locations where the CO2 capture is technically impossible and/or unprofitable.

Related subjects: Production & Supply Chain
Countries: Russian Federation

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