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.
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