ARLINGTON, Va., May 27, 2021 /CNW/ -- Today, Venture Global LNG announced plans to capture and sequester carbon at its Calcasieu Pass and Plaquemines LNG facilities. Having concluded a comprehensive engineering and geotechnical analysis, the company is launching, subject only to regulatory approvals, a shovel-ready carbon capture and sequestration (CCS) project, compressing CO2 at its sites and then transporting the CO2 and injecting it deep into subsurface saline aquifers where it will be permanently stored.
Through this undertaking, Venture Global will capture and sequester an estimated 500,000 tons of carbon per year from its Calcasieu Pass and Plaquemines liquefaction sites. In addition, the Company anticipates using similar infrastructure to capture and sequester 500,000 tons of carbon per year from the CP2 LNG facility once permitted. Altogether, Venture Global plans to sequester 1 million tons of carbon per year, the equivalent of removing nearly 200,000 cars off the road each year for 20 years. The successful deployment of carbon capture and sequestration technology at Calcasieu Pass would be the first of its kind for an existing LNG facility in the United States.
"From driving down the cost of LNG to driving down our carbon footprint, Venture Global continues to execute on our mission to constantly innovate in order to deliver the best product possible to our customers," said Venture Global CEO Mike Sabel. "Through this historic carbon capture and sequestration project, we will build upon our existing state-of-the-art technology to develop even cleaner LNG at our facilities to displace coal around the world. Our location in Louisiana uniquely positions us to pioneer the deployment of this technology due to geology that can support industrial scale injection and storage of CO2. Through the continued leadership of Governor John Bel Edwards, Louisiana will become the national hub for innovative energy technology to tackle climate challenges and Venture Global is proud to partner with him in these efforts."
"I am pleased to learn that Venture Global LNG has identified significant opportunities for CO2 capture and sequestration in Louisiana," said Louisiana Governor John Bel Edwards. "Louisiana is well-positioned in terms of infrastructure, industry, geology and policy to take a leadership role in controlling and reducing atmospheric emissions of carbon through the use of Carbon Capture, Utilization and Storage (CCUS) initiatives. Louisiana fully recognizes that our nation is in the early stages of a profound transition in our energy mix, and I am committed to supporting private sector investments that address greenhouse gas emissions in a major and sustaining way in our state. Clearly Venture Global LNG is a valued partner on this new frontier of carbon capture."
"We already know that Louisiana's geology and industry are primed to be a major hub for growing new economic opportunities through carbon management, and now we are seeing what we need to take that next step to be a national leader in the field – actual projects like Venture Global LNG's CCS proposal," said Louisiana Secretary of Natural Resources Tom Harris. "This state is perfectly positioned to benefit from the growth of a carbon management industry and the experience and technology already present here will serve companies well in seeking to develop our advantages, to the benefit of the state's people, its environment and the companies that choose to do business here."
About Venture Global LNG
Venture Global LNG is a long-term, low-cost provider of U.S. LNG to be supplied from resource rich North American natural gas basins. The company is currently constructing or developing over 50 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. More can be found at www.venturegloballng.com.
SOURCE Venture Global LNG
Venture Global investor contact: Leah Woodward, D: +1 202 759-6746 [email protected]; Venture Global media contact: Shaylyn Hynes, D: +1 202 920-0964, [email protected], https://venturegloballng.com
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