Algae biofuel is future: Research
The GCC countries can promote algae biofuel as a viable source of energy in the future, according to a report.
Future Market Insights, a research service provider, said in its report that algae biofuels presented a great opportunity to compensate the environmental impact of the oil and gas industries in the GCC. The GCC has a wide coastline that stretches across its countries and is ideal for algae production. The carbon dioxide emissions from oil and power refineries can be effectively utilised and the climate is also favourable for algae cultivation. Sewage treatment plants are also a vital source of algae.
Biofuel is likely to be an addition to the energy mix of the GCC countries in the future, rather than a competitor to petroleum-based oil. This scenario in the GCC will be a reality in the long run if the technology required for it, for instance, photo bioreactors becomes a feasible option.
Algae costs more per unit than other biofuel crops, but is claimed to yield 10 to 100 times more fuel per unit area. In 2014, the prices of oil were between US $56 to US $120 per barrel. The cost of producing micro algal biomass in 2014 was US $2.95/kg through photo bioreactors.
If the annual biomass production capacity is increased to 1000 tons, the cost will reduce to US $1.5/kg for a litre of crude oil, the report added.
Photo Caption: The GCC has a wide coastline that stretches across its countries and is ideal for algae production
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