Methanol production via integrated methane reforming and chemical looping combustion: Process simulation and techno-economic assessment

In this research, a novel technology is proposed that combines chemical looping combustion and methane reforming in order to convert CO2 to value added chemicals. The stoichiometric number is improved via adding assisted steam and utilizing pressure swing adsorption unit. The process simulation is conducted utilizing Aspen plus-V10 simulation software. The new built-in model featured by AspenTech, dubbed Fluidbed, in Aspen Plus is employed to simulate the CLC section. In Aspen Plus flowsheet environment, a hierarchal approach is considered in that the main flowsheet is divided into 5 hierarchy models or sub flowsheets. The process simulation results display that the overall conversions of CH4 and CO2 via this process are 97 % and 87 %, respectively. The heat integration results depict that 138.7 MW heat energy can be saved in the process. The CO2 emission of the whole process per methanol production is 0.1 tCO2/tMe. The estimated capital expenditure, and operating expenditure are US$ 509 million and US$ 159 million/yr, respectively. A discounted cash flow model combined with sensitivity analyses showed that a breakeven point could be reached with a methanol price of US$ 242/tonne. Net present value, internal rate of return, and pay out time are evaluated based on DCF results.