Equinor acquires stake in Bayou Bend CCS Project
London, 28 August, 2023, (Oilandgaspress) – Equinor has acquired a 25 percent interest in Bayou Bend CCS LLC, positioned to be one of the largest US carbon capture and storage projects located along the Gulf Coast in Southeast Texas.
“Commercial CCS solutions are critical for hard-to-abate industries to meet their climate ambitions while maintaining their activity. Entering Bayou Bend strengthens our low carbon solutions portfolio and supports our ambition to mature and develop 15-30 million tonnes of equity CO2 transport and storage capacity per year by 2035. Our experience from developing carbon storage projects can help advance decarbonization efforts in one of the largest industrial corridors in the US,” said Grete Tveit, senior vice president for Low Carbon Solutions in Equinor.
Bayou Bend is positioned to be one of the largest CCS solutions in the US for industrial emitters, with nearly 140,000 gross acres of pore space for permanent CO2 sequestration and gross potential storage resources of more than one billion metric tons. The Bayou Bend total acreage includes nearly 100,000 gross acres onshore in Chambers and Jefferson Counties, Texas, and approximately 40,000 gross acres offshore Beaumont and Port Arthur, Texas.
“We look forward to working together with our partners to further mature this exciting project. Bayou Bend is Equinor’s first announced low carbon solutions project on the Gulf Coast. Alongside our upstream production and offshore wind developments, we’re strengthening our position as a broad energy company and expanding our footprint in the Gulf region,” said Chris Golden, senior vice president and US Country Manager. “Bayou Bend is a significant milestone towards growing our low carbon portfolio in the US.”
The project’s location near major industrial corridors in the Houston Ship Channel and Beaumont / Port Arthur area will provide a potential decarbonization option for industries such as refining, cement, steel, chemicals, and manufacturing. Industrial emissions in the Texas Gulf Coast region are estimated to be approximately 100 million metric tonnes of CO2 per year.
Information Source: Read More
Energy Monitors , Electric Power , Natural Gas , Oil , Climate , Renewable , Wind , Transition , LPG , Solar , Electric , Biomass , Sustainability , Oil Price , Electric Vehicles, Crude Oil Markets, Crude Oil, Supply Analytics,
