Monday, August 8, 2022

CapturePoint Solutions LLC Announces Intended Partnership With Energy Transfer

CapturePoint Solutions LLC (CPS), a subsidiary of CapturePoint LLC based in Allen, Texas, announced that it has signed a Letter of Intent (LOI) with a wholly-owned subsidiary of Energy Transfer to participate in a feasibility study to capture CO2 emissions from Haynesville Shale natural gas production facilities for sequestration in the CPS Central Louisiana Regional Carbon Storage Hub (CENLA Hub). The CENLA Hub has the potential to be one of the largest onshore deep underground carbon storage centers in the United States, with the capacity to permanently secure millions of tons of CO2 annually that might have otherwise been emitted into the atmosphere.

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Upon completion of the feasibility study in 2022, a positive Financial Investment Decision (FID) based on the commercial viability of the project would launch the first joint venture of Energy Transfer and CapturePoint Solutions. The proposed initial joint endeavor would capture, transport and sequester CO2 emissions from natural gas processing facilities in the Haynesville Shale in Northwest Louisiana, one of the largest natural gas fields in the United States. Energy Transfer would capture the CO2 from Energy Transfer’s affiliated natural gas facilities in the Haynesville Shale and build and operate a pipeline to the CENLA Hub storage sites. CPS would build and operate capture services for third-party Haynesville Shale facilities as well as develop the sequestration sites where all captured CO2 would be permanently secured in geologic storage up to two miles underground.

CPS is evaluating and developing a number of proposed storage sites in the CENLA Hub, and filed for an EPA Class VI permit in June 2022 to advance the first operational location. The geology of deep underground carbon storage in the region, pending federal and state approvals, could ultimately allow the CENLA Hub to permanently sequester several hundred million tons of CO2. Beyond the CO2 sourced from the Haynesville Shale natural gas facilities, CPS will continue to seek additional industrial sources of carbon dioxide emissions for capture and storage in the hub.

“The joint project with Energy Transfer could capture millions of tons of CO2 every year from the Haynesville Shale natural gas industry to be permanently stored deep underground rather than emitted into Louisiana’s air,” said Tracy Evans, CEO of CapturePoint Solutions, who also noted: “This is a significant first step in the development of the Central Louisiana Regional Carbon Storage Hub, and it highlights our expectations that the CENLA Hub will become one of the most important carbon storage projects in the nation.”

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