The US state of Louisiana will soon be home to an array of new carbon dioxide (CO2) sequestration projects.
Energy company Denbury on Wednesday (16th March) confirmed the news, having inked three new lease agreements with private landowners in the state for the development of planned CO2 sequestration developments.
Helping to decarbonise Louisiana’s industrial corridor, two of the agreements will see Denbury cover a contiguous area of approximately 84,000 acres, located approximately 30 miles southeast of New Orleans.
With this, Denbury hopes to provide more than 500 million metric tonnes of potential CO2 sequestration capacity. The firm wants to first connect this storage capacity to industrial facilities in the region.
In addition to the two above agreements, Denbury has also completed a pore space agreement adjacent to the acreage leased under the firm’s recently announced agreement near Donaldsonville, Louisiana.
The new agreement expands the potential volume of CO2 that the company estimates can be sequestered at the combined site to more than 220 million metric tonnes, approximately a 50% expansion to the original site.
Chris Kendall, President and CEO of Denbury, said, “These agreements further cement Denbury’s position as the definitive leader in CCUS, and we are continuing to advance negotiations with multiple industrial partners whose captured emissions would be stored in these sites.”
“Today, through our unrivalled CO2 pipeline infrastructure and enhanced oil recovery operations, Denbury is uniquely able to provide transportation and certainty of storage capacity for captured industrial CO2 emissions.”
“Looking forward, we are poised for continued growth and success in the emissions-intensive Gulf Coast region, as we significantly expand our storage capacity through the addition of a diverse portfolio of sequestration sites, exemplified by the agreements announced today.”
With the agreement, Denbury now has exclusive rights to develop pore space storage with an estimated capacity of more than 1.4 billion metric tonnes of CO2.