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A method for the analysis of process energy requirements has been used to identify in an early design stage the potential process retrofit measures in an integrated pulp and paper mill. The minimum energy requirements (MER) of the process were computed by means of a dual representation that segregates the thermodynamic requirement of the process from its technological implementation. Energy and exergy recovery opportunities have been examined to improve the integration of the utility system to the process. An MILP optimisation targeting method has been applied to identify the best energy conversion options and to optimise the production of combined heat and power (CHP). Replacing the steam injections to mixing tanks by heat exchangers would decrease the MERby 10%, and increase the combined production of heat and power by a factor 1.7. Improving the exergy efficiency of the paper drying technology would be more difficult to implement, but the results indicate that this could bring an additional 12% gain of electricity cogenerated with no change to the MER.