CapturePoint Solutions LLC Announces Intended Partnership With Energy Transfer
Partnership will Evaluate Capture of CO2 from Haynesville Shale Natural Gas Facilities for Deep Underground Sequestration in the Central Louisiana Regional Carbon Storage Hub
ALLEN, Texas–(BUSINESS WIRE)–CapturePoint Solutions LLC (CPS), a subsidiary of CapturePoint LLC based in Allen, Texas, announced today that it has signed a Letter of Intent (LOI) with a wholly-owned subsidiary of Energy Transfer (NYSE:ET) to participate in a feasibility study to capture CO2 emissions from Haynesville Shale natural gas production facilities for sequestration in the CPS Central Louisiana Regional Carbon Storage Hub (CENLA Hub). The CENLA Hub has the potential to be one of the largest onshore deep underground carbon storage centers in the United States, with the capacity to permanently secure millions of tons of CO2 annually that might have otherwise been emitted into the atmosphere.
Upon completion of the feasibility study in 2022, a positive Financial Investment Decision (FID) based on the commercial viability of the project would launch the first joint venture of Energy Transfer and CapturePoint Solutions. The proposed initial joint endeavor would capture, transport and sequester CO2 emissions from natural gas processing facilities in the Haynesville Shale in Northwest Louisiana, one of the largest natural gas fields in the United States. Energy Transfer would capture the CO2 from Energy Transfer’s affiliated natural gas facilities in the Haynesville Shale and build and operate a pipeline to the CENLA Hub storage sites. CPS would build and operate capture services for third-party Haynesville Shale facilities as well as develop the sequestration sites where all captured CO2 would be permanently secured in geologic storage up to two miles underground.
CPS is evaluating and developing a number of proposed storage sites in the CENLA Hub, and filed for an EPA Class VI permit in June 2022 to advance the first operational location. The geology of deep underground carbon storage in the region, pending federal and state approvals, could ultimately allow the CENLA Hub to permanently sequester several hundred million tons of CO2. Beyond the CO2 sourced from the Haynesville Shale natural gas facilities, CPS will continue to seek additional industrial sources of carbon dioxide emissions for capture and storage in the hub.
“The joint project with Energy Transfer could capture millions of tons of CO2 every year from the Haynesville Shale natural gas industry to be permanently stored deep underground rather than emitted into Louisiana’s air,” said Tracy Evans, CEO of CapturePoint Solutions, who also noted: “This is a significant first step in the development of the Central Louisiana Regional Carbon Storage Hub, and it highlights our expectations that the CENLA Hub will become one of the most important carbon storage projects in the nation.”
Mr. Evans also stated that the potential partnership could have a decisive positive impact on the future of US Carbon Capture and Storage efforts: “Together, CapturePoint and Energy Transfer have the resources and expertise to deliver on the promise of deep underground carbon sequestration with world-class CO2 capture and transport via a pipeline network connecting to premier deep underground geologic formations where CPS can safely, securely and permanently store incredibly large volumes of CO2 that would otherwise be released into the atmosphere.
“Our announcement today is the culmination of a tremendous effort from the entire CPS team. Since we began CPS in 2020, we have assembled a cohort of professionals with unparalleled experience in all facets of carbon sequestration. They are ready to demonstrate that Carbon Capture and Storage is feasible on a large scale today, and their work is laying the foundation for reducing CO2 emissions even more significantly in the future.”
CapturePoint Solutions LLC (CPS) is a wholly owned subsidiary of CapturePoint LLC based in Allen, Texas focusing on carbon capture and sequestration projects (CCS) and seeking to capture, transport and sequester CO2 emissions from industrial facilities that would otherwise be released into the atmosphere, permanently securing the carbon dioxide deep underground. In addition to the Central Louisiana Regional Carbon Capture Hub (trademark pending), CPS has projects under development in Kansas, Mississippi and Oklahoma, and is evaluating potential ventures in several other states. For more information, visit the CapturePoint website at www.capturepointllc.com.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at energytransfer.com.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. In addition to the risks and uncertainties previously stated, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The firm undertakes no obligation to update or revise any forward-looking statement to reflect new information or events, nor to update the status of federal or state permits or approvals or other external factors that may affect potential future operations.
The information contained in this press release is available on our website at www.capturepointllc.com.
Tracy Evans, CEO
Thomas Rajan, CFO