Commonwealth LNG, OnStream CO2 Partner on CCS Solution At Developing Louisiana Facility
(P&GJ) – Commonwealth LNG has entered into a Memorandum of Understanding (MOU) with OnStream CO2 LLC, a joint venture between Carbonvert Inc. and Castex Carbon Solutions, LLC, for a carbon capture and storage solution at Commonwealth's 9.3 million tonnes per annum LNG facility under development in Cameron, Louisiana.
Under the agreement, OnStream CO2 will design, construct, own, and operate carbon dioxide (CO2) capture equipment near the Commonwealth LNG site. The captured CO2 will be permanently sequestered at the Cameron Parish CO2 Hub. Commonwealth will dedicate CO2 emitted from the LNG facility for a 20-year term.
The Carbonvert-Castex joint venture recently announced an operating agreement with the State of Louisiana to develop a 24,000-acre tract of land offshore Cameron Parish, where it will permanently store CO2 in a hub with capacity for more than 250 million metric tons.
Castex will serve as the operator for the Cameron Parish CO2 Hub. Castex EVP and CFO Aaron Killian said, "OnStream's tailored CO2 capture, transportation, and storage solution will allow Commonwealth LNG to achieve key environmental initiatives while focusing on its core LNG business."
Commonwealth LNG anticipates a final investment decision on its LNG project in the first half of 2024, with first cargo deliveries expected in 2027. Commonwealth will be able to achieve an accelerated construction schedule by using a modular approach with major components being fabricated offsite.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- $3 Billion Natural Gas Pipeline Expansion to Add 1.3 Bcf Capacity in Southeast Region
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
Comments