CapturePoint Announces Intent to Proceed With Central Louisiana Carbon Capture and Sequestration Infrastructure Investments
ALLEN, Texas--(BUSINESS WIRE)--CapturePoint LLC (together with its affiliates, “CapturePoint”) announced today that the company has made a final investment decision to proceed with carbon capture and storage infrastructure investments in the Central Louisiana Regional Carbon Storage Hub (“CENLA Hub”). CapturePoint’s geologic storage sites in the CENLA Hub have the potential to be among the largest onshore deep underground carbon sequestration centers in the United States, with the capacity to permanently secure tens of millions of tons of CO2 annually up to two miles underground.
The first phase of the CENLA Hub project will involve the capture of dedicated CO2 emissions from natural gas processing facilities owned by affiliates of EnergyTransfer (NYSE:ET) in North and Central Louisiana, as well as from other industrial sources in the area, for transport by pipeline to deep underground sequestration in the CENLA Hub. CapturePoint’s future plans include expansions to capture, transport and store emissions at the CENLA Hub from other sources in the industrial corridors of Southern Louisiana.
CapturePoint filed for an EPA Class VI permit in June 2022 to advance the first CO2 sequestration wells in the CENLA Hub. The company expects to file a permit application for a second storage site in the CENLA Hub in the first quarter of 2023. The premier geology in the region could ultimately allow each of CapturePoint’s CENLA Hub storage sites to permanently sequester several hundred million tons of CO2 beneath multiple thick containment layers of rock.
“This is a significant step in the development of the CENLA Hub,” said Tracy Evans, CEO of CapturePoint. “CapturePoint’s final investment decision spotlights our expectations that the CENLA Hub will become one of the most important carbon storage projects in the nation.” Mr. Evans explained that Energy Transfer has worked jointly with CapturePoint to co-develop the project to date and expects EnergyTransfer to make a final investment decision regarding the scope of its commercial and operational participation the CENLA Hub later this year. In addition, CapturePoint has now executed deals with private landowners for pore space leases totaling over 14,000 acres associated with the second CENLA Hub storage site. “Our decision to proceed with investments in the CENLA Hub is the culmination of a tremendous effort from the entire CapturePoint team and it solidifies the company’s leadership role in US deep underground carbon storage. CapturePoint has the capital, resources and expertise to deliver on the first phase of this deep underground carbon sequestration project to safely, securely and permanently store large volumes of CO2 that would otherwise be released into Louisiana’s air,” he said.
The decision to invest in the CENLA Hub Project is just one example of CapturePoint projects coming to fruition in the first quarter of 2023, following substantial investment in the second half of 2022 by Mercuria Energy Trading, SA (“Mercuria”). Mercuria, a global energy and commodity group based in Geneva, Switzerland, is one of the world’s leading energy and energy technology investors.
About CapturePoint LLC
CapturePoint LLC is a privately held company based in Allen, Texas focused on cutting-edge energy development and carbon sequestration services.
Forward Looking Statements
This press release may include certain statements concerning expectations for thefuture 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.
Investor Relations and Media Contact:
Tracy Evans, CEO