Carlyle-backed Crescent Midstream to Develop $1 Billion Carbon Capture Project in Louisiana
(Reuters) — Oil pipeline firm Crescent Midstream, which is backed by investment firm Carlyle Group, said on Friday it would jointly develop and construct a carbon capture and storage project in Lake Charles, Louisiana.
The nearly $1 billion project would capture carbon dioxide from an Entergy-owned natural gas-fired power plant, the 994 MW Lake Charles power station.
Collaborating with Samsung E&A and Honeywell's technologies, the project is expected to capture up to 3 million tonnes of carbon dioxide per year.
The project is expected to be completed in 2028, Crescent said in an emailed response.
Crescent Midstream owns nearly 1,200 miles of pipelines around Louisiana and the Gulf of Mexico which transport almost 200 million barrels of crude oil annually, its website showed.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments