CapturePoint, the Texas-based CCS developer, 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), according to a news release.
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 Energy Transfer 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 plans include expansions to capture, transport and store emissions at the CENLA Hub from other sources in the industrial corridors of southern Louisiana.
The company filed for an EPA Class VI permit in June 2022 to advance the first CO2 sequestration wells in the CENLA Hub. A permit application for a second storage site in the CENLA Hub is expected to be filed in the first quarter of 2Q23. 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.
“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,” Tracy Evans, CEO of CapturePoint, said in the release.
Energy Transfer has worked jointly with CapturePoint to co-develop the project to date and expects Energy Transfer to make a final investment decision regarding the scope of its commercial and operational participation the CENLA Hub later this year.
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.
The decision to invest in the CENLA Hub Project is just one example of CapturePoint projects coming to fruition in 1Q23, following substantial investment in the second half of 2022 by Mercuria Energy Trading, a global energy and commodity group based in Geneva.
