Search

Climate Change

Saturday
21 Sep 2024

Carlyle-Backed Crescent Midstream to Build Carbon Capture and Storage Unit in Louisiana

21 Sep 2024  by reuters   
A woman walks next to the logo for Carlyle at the company’s offices in New York City, U.S., June 28, 2022. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights
Oil pipeline firm Crescent Midstream, which is backed by investment firm Carlyle Group, said on Friday it would jointly develop and construct a carbon capture and storage project in Lake Charles, Louisiana.

The nearly $1 billion project would capture carbon dioxide from an Entergy-owned (ETR.N), opens new tab natural gas-fired power plant, the 994 MW Lake Charles power station.

Collaborating with Samsung E&A and Honeywell's (HON.O), opens new tab technologies, the project is expected to capture up to 3 million tonnes of carbon dioxide per year.

The project is expected to be completed in 2028, Crescent said in an emailed response.

Crescent Midstream owns nearly 1,200 miles of pipelines around Louisiana and the Gulf of Mexico which transport almost 200 million barrels of crude oil annually, its website showed.

Keywords

More News

Loading……