CapturePoint LLC and its affiliate CapturePoint Solutions LLC, headquartered in Allen, Texas, have announced the signing of a revised Letter of Intent with an Energy Transfer LP affiliate, based in Dallas, Texas, for the joint development of a carbon capture and permanent deep underground storage project in Louisiana. Additionally, the companies have penned a definitive CO2 offtake agreement, committing CO2 from Energy Transfer’s Haynesville natural gas treating facilities to the project.
The revised LOI and CO2 Offtake Agreement allocate CO2 emissions from Energy Transfer’s Haynesville natural gas midstream facilities to CapturePoint’s Central Louisiana Regional Carbon Storage Hub, granting Energy Transfer the option to participate in a joint venture overseeing the CENLA Hub’s ownership and operation. Furthermore, the LOI outlines a collaboration framework for capturing and sequestering additional CO2 from other Energy Transfer facilities in Louisiana.
The CENLA Hub, among the largest onshore deep underground carbon storage centres under development in the United States, has the capacity to permanently secure millions of tonnes of CO2 annually that would otherwise be released into the atmosphere. The agreements establish the groundwork for capturing and storing up to two million tonnes of CO2 annually at the CENLA Hub.
“Energy Transfer is one of the largest and most diversified midstream energy companies in North America,” remarked Tracy Evans, CEO of CapturePoint. “The revised LOI and the CO2 Offtake Agreement reflect Energy Transfer’s recognition of the CENLA Hub as one of the most promising deep underground CO2 storage sites in the nation. We are excited to have this significant commitment from Energy Transfer.”
Recent test well data from the CENLA Hub demonstrates the region’s unique geology could permanently sequester several hundred million tonnes of CO2. The Louisiana Department of Natural Resources is currently reviewing CapturePoint’s permit applications for CENLA Hub Class VI CO2 injection sites in Vernon and Rapides Parishes.
“We want to thank our partners in the local CENLA Hub communities for their strong support for this important economic and environmental development,” concluded Mr. Evans. “Our team at CapturePoint is working to deliver a leading-edge project that will define the future of carbon management in the United States.”
CapturePoint LLC and CapturePoint Solutions LLC are privately held affiliated companies with offices in Allen, Texas, focusing on carbon capture and storage projects, including the development of regional deep underground storage hubs for large scale capture of CO2 emissions from industrial sources. Apart from the CENLA Hub, CPS has projects under development in Colorado, Oklahoma, and Texas, with potential ventures being evaluated in several other states. CapturePoint’s funding includes an affiliate of Mercuria Energy, other institutional investors, and management.
For more information visit www.capturepointllc.com.
