LAUSR

Abstract Conceptual design for two options of carbon-dioxide-utilized gas-to-methanol process (CGTM) was implemented by using process simulation software Aspen Plus. The overall mass and energy stream results as well as the thermal and carbon efficiency were obtained from the developed process models. Before the following economic evaluation and sensitivity analysis, total capital investment (TCI) and total product cost (TPC) of both CGTM options were determined. Then, economic evaluation were conducted to assess the economic profitability of the base cases for both CGTM options, using the economic evaluation indicators such as net present value (NPV), internal rate of return (IRR), and discounted payback period (DPBP). Furthermore, sensitivity analysis as well as break-even analysis were also applied to investigate the economic performance of both CGTM options under different circumstances, by changing parameters such as methanol and NG prices, plant scale, and carbon tax. It was shown that the methanol price, CAPEX, and NG price are the most sensitive factors, and the two CGTM options were economically feasible in the plant scale range of 2500–5000 ton per day, according to the economic evaluation indicators NPV, IRR, and DPBP, and were more economically competitive in the case of higher plant scale and carbon tax.