Venture Global Launches Carbon Capture and Sequestration Project
ARLINGTON, Va. – Venture Global LNG unveiled plans last week to capture and sequester carbon at two of its liquid natural gas facilities in Louisiana.
Having concluded a comprehensive engineering and geotechnical analysis at the sites in Calcasieu Pass and Plaquemines, La., the company says it is ready to launch the projects as soon as it receives regulatory approvals.
Venture Global’s intention is to capture and sequester an estimated 500,000 tons of carbon per year at the liquefaction sites. The process will entail transporting the C02 to the sites and then injecting it deep into subsurface saline aquifers where it will be stored permanently.
The company is also anticipating using similar infrastructure at a third site to capture and sequester an additional 500,000 tons of carbon per year.
Venture Global said combined, the initiatives will be equivalent to removing nearly 200,000 cars from the road each year for 20 years.
In addition, 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,” Sabel said in a written statement.
“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,” he said, going on to predict Louisiana will become a national hub for innovative energy technology to tackle climate challenges.
For that, he credited the enlightened policies of Louisiana Gov. John Bel Edwards.
Edwards himself said a number of factors contributed to Louisiana’s being the perfect place to carry out such a project.
“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 initiatives,” he explained.
At the same time, he said, “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.”
Tom Harris, Louisiana’s secretary of natural resources, described the state as “primed” to be a major hub for the growing carbon management sector.
“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,” Harris said. “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.”
The project also aligns with President Joe Biden’s goal to reduce U.S. greenhouse gas emissions by at least 50% by 2030 — a target that more than doubles the country’s prior commitment under the 2015 Paris climate agreement.
“This is the decisive decade,” Biden said in late April, when he unveiled his goal. “This is the decade that we must make decisions to avoid the worst consequences of the climate crisis.”
“This is a moral imperative. An economic imperative. A moment of peril, but also a moment of extraordinary possibilities,” the president said.
