Norway/United States – Equinor, a Norwegian energy company, has bought a 25% stake in Bayou Bend CCS, one of the largest US carbon capture and storage projects, located along the Gulf Coast in Southeast Texas.
With almost 140,000 gross acres of pore space for long-term CO2 sequestration and gross potential storage resources of more than one billion metric tons, Bayou Bend is ideally positioned to be one of the largest CCS solutions in the US for industrial emitters. Nearly 100,000 gross acres of the Bayou Bend’s total acreage are located on land in the Texas counties of Chambers and Jefferson, and around 40,000 gross acres are located offshore between Beaumont and Port Arthur.
Decarbonization alternative
The project’s proximity to important industrial corridors in the Beaumont/Port Arthur area and Houston Ship Channel will potentially offer a decarbonization alternative for sectors like manufacturing, cement, steel, and refining. There are thought to be 100 million metric tonnes of industrial emissions along the Texas Gulf Coast each year.
Stakes
Chevron U.S.A. Inc.’s Chevron New Energies division, Talos Energy Inc.’s Talos Low Carbon Solutions division, and Equinor are partners in the Bayou Bend joint venture. Through the purchase of Texas Carbon 1 LLC, a Carbonvert subsidiary, Equinor obtained its 25% stake. The operator is Chevron, which has a 50% interest, and Talos, which owns a 25% interest.
