Energy company Denbury and Mitsubishi Corporation have executed a term sheet for the transport and storage of CO2 from Mitsubishi’s proposed ammonia project on the Gulf Coast of the US.
The agreement between the companies stresses their shared interest in energy and low-carbon opportunities. Mitsubishi is more focused on the production of ammonia fuel, while Texas-based Denbury deals with carbon transportation and storage solutions.
Mitsubishi wants to introduce its ammonia fuel to the Japanese market. The production will first commence from its Gulf Coast ammonia project facility in the latter half of the decade.
It will produce around one million metric tons per annum (mmtpa) of ammonia. Likewise, the associated CO2 emissions amount to around 1.8 mmtpa.
For more information visit www.denbury.com
