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Commonwealth LNG has entered right into a memorandum of understanding (MoU) with OnStream CO2 LLC, a three way partnership between Carbonvert Inc. and Castex Carbon Options, LLC, for a carbon seize and storage answer at Commonwealth’s 9.3 million tpy LNG facility below improvement in Cameron, Louisiana.
Beneath the settlement, OnStream CO2 will design, assemble, personal, and function carbon dioxide (CO2) seize tools close to the Commonwealth LNG web site. The captured CO2 can be completely sequestered on the Cameron Parish CO2 Hub. Commonwealth will dedicate CO2 emitted from the LNG facility for a 20-year time period.
The Carbonvert-Castex three way partnership lately introduced an working settlement with the State of Louisiana to develop a 24 000-acre tract of land offshore Cameron Parish, the place it should completely retailer CO2 in a hub with capability for greater than 250 million t.
Commonwealth LNG Founder and Govt Chairman, Paul Varello, stated: “Including carbon seize expertise enhances our complete objective of attaining best-in-class environmental requirements by way of measures that additionally embrace a deal with responsibly sourced fuel and the set up of the best effectivity fuel generators.”
Carbonvert Founder and CEO, Alex Tiller, added: “Commonwealth’s dedication to our storage web site is a superb first step and instils confidence within the Lake Charles industrial hall to launch CO2 seize initiatives and improve resilience amidst carbon-related world commerce necessities and clients’ growing demand for low-carbon merchandise.”
Castex will function the operator for the Cameron Parish CO2 Hub.
Castex Govt Vice President and CFO, Aaron Killian, commented: “We’re happy to work with Commonwealth LNG to attain the shared imaginative and prescient of safely, completely and economically decreasing CO2 emissions. OnStream’s tailor-made CO2 seize, transportation, and storage answer will permit Commonwealth LNG to attain key environmental initiatives whereas specializing in its core LNG enterprise.”
Commonwealth LNG anticipates a remaining funding choice on its LNG undertaking within the 1H24, with first cargo deliveries anticipated in 2027. Commonwealth will be capable to obtain an accelerated building schedule by utilizing a modular method with main parts being fabricated offsite. Remaining phrases of the carbon seize association stay topic to negotiation of a definitive settlement between the events.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/29112023/commonwealth-lng-signs-carbon-capture-and-storage-mou-with-onstream-co2/
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