Business Briefs

Companies, Organizations & People
By Various Contributors | October 31, 2023

Milestone Carbon announces
CO2 sequestration hub in Midland Basin
Milestone Carbon, a subsidiary of Milestone Environmental Services, announced the development of a CO2 sequestration hub in the southwestern Midland Basin., spanning parts of Midland and Upton counties. The company acquired rights to over 10,000 acres for permanent CO2 storage, secured a Class II injection well permit for local gas processors, and submitted a Class VI permit for expanded industrial CO2 injection. The hub has potential to store 30 million metric tons of CO2, supporting emission reduction efforts.

Milestone Environmental Services’ experience in waste sequestration, regulatory compliance, land leasing, and subsurface analysis underpins the development of Milestone Carbon’s carbon hub in the Midland Basin. These hubs offer a cost-effective solution for emissions reduction, benefiting heavy industry and energy producers, with job creation potential and the possibility of attracting low-carbon technologies. The Permian Basin’s established history of safe CO2 handling further supports Milestone Carbon’s role in industrial decarbonization.

Carbonvert, Castex execute joint
venture for offshore CCS Hub
Carbonvert Inc. and Castex Energy’s subsidiary, Castex Carbon Solutions, have formed a partnership to develop a 24,000-acre offshore tract in Louisiana’s Cameron Parish for permanent carbon dioxide (CO2) storage. Based on the subsurface geology, the Cameron Parish CO2 Hub has a total storage capacity of more than two hundred and fifty million metric tons of CO2 which will service the region’s industrial emitters.

The JV Partners are considering repurposing existing pipelines for the project. They entered a 50/50 joint venture in August 2022 to advance CCS projects in Louisiana, focusing on economic and environmental benefits for the region. Castex will operate the Cameron Parish CO2 hub, aiming for global competitiveness while stewarding the land responsibly. Additionally, the JV Partners remain dedicated to advancing Louisiana’s sustainable future through responsible and innovative business practices.

U.S. Department of Energy announces
$27M for CO2 transport networks
The U.S. Department of Energy’s Office of Fossil Energy and Carbon Management (FECM) is making up to $27 million available to support the transport of carbon dioxide (CO2) from industrial and power facilities, as well as from legacy emissions, for permanent storage or conversion. This funding aligns with President Biden’s climate goals and supports a growing carbon storage industry. It aims to develop a CO2 transport network to connect sources to suitable geological formations or conversion sites. Front-end engineering and design (FEED) studies will receive funding, focusing on carbon transport costs, network configurations, and technical and commercial aspects. Societal considerations and community engagement are emphasized, with a deadline of November 16, 2023, for applications. FECM has already invested nearly $400 million in carbon transport and storage projects since January 2021, contributing to economic development, innovation, and job creation in the clean energy sector.

Large-scale Petra Nova Carbon Capture Facility
restart announced
JX Nippon Oil & Gas Exploration Corporation has resumed operations at the Petra Nova CCUS Project’s Carbon Capture Facility, one of the world’s largest, capable of capturing approximately 1.4 million metric tons of CO2 annually. This facility captures CO2 from a thermal power plant’s flue gas and injects it into an oil field to boost crude oil production. JX Nippon is committed to achieving carbon neutrality by FY2040, viewing CCS/CCUS as vital in this effort. The ENEOS group to which JX Nippon belong is taking on the challenge of achieving both “a stable supply of energy and materials” and “the realization of a carbon-neutral society” and has been working to achieve carbon neutrality of its emissions by FY2040.  

Printed in Issue 2 of Carbon Capture Magazine