- Crescent will lead the development of the carbon capture and
sequestration ("CCS") project for Entergy Corporation's (NYSE: ETR)
994 MW Lake Charles Power Station in Westlake, Louisiana
- The completed project would be one of the country's largest CCS
projects, capturing annual commercial carbon dioxide ("CO2")
emissions equivalent to 600,000 motor vehicles
- The project, which is being done in partnership with SAMSUNG
E&A and will use Honeywell capture technology, seeks to
construct a carbon capture facility and pipeline capable of
capturing and transporting 3 million metric tonnes of CO2 per
year
GRAY,
La. and HOUSTON,
Sept. 20,
2024 /PRNewswire/ -- Crescent Midstream will develop
and construct an integrated CCS project in Lake Charles, Louisiana capable of capturing,
transporting, and permanently storing CO2 emitted from an
Entergy-owned natural gas-fired power plant. Through collaboration
between Entergy, Crescent, SAMSUNG E&A, and Honeywell's carbon
capture technologies, the ~$1 billion
project would be one of the largest CCS projects in the United States. It is expected to capture
up to three million tonnes of CO2 per year that would otherwise be
emitted on the Louisiana Gulf Coast.
Louisiana is the second largest
CO2-emitting state in the United
States. The majority of those emissions are concentrated in
the lower Mississippi River Industrial Corridor, which produces
more than 72 million tonnes of CO2 emissions per year according to
the EPA. Roughly 66% of the state's CO2 emissions come from
industrial sources and 13% come from electric power generation.
As part of the project, Crescent would apply its extensive
onshore and offshore pipeline construction and operations
experience to facilitate the safe transportation of CO2 from
emitters to permanent underground storage facilities.
Jerry Ashcroft, CEO of Crescent
Midstream, said, "Corporate sustainability is a core value at
Crescent Midstream. We are proud to apply our extensive midstream
expertise to create the vital connection between carbon dioxide
emission sources and permanent underground storage. Large-scale
carbon capture and sequestration has enormous potential to reduce
greenhouse gas emissions, and we look forward to helping
demonstrate that in one of the highest emitting regions in
the United States."
This project builds on Crescent's ongoing commitment to
corporate sustainability. To help reduce emissions, the firm
recently agreed to sponsor efforts by the Well Done Foundation
(WDF) to plug orphaned oil wells in Louisiana. The foundation's proven methodology
delivers immediate and quantifiable benefits by stopping oil wells
from discharging methane emissions, a gas that is more than 25
times as potent as carbon dioxide at trapping heat in the
atmosphere. Additionally, Crescent has completed marsh preservation
projects that mitigate coastal erosion in areas that have been
impacted by inclement weather events to both protect and rebuild
those areas and to restore CO₂ absorbing plant life. In addition,
Crescent is actively involved in community outreach in Southern Louisiana and supports numerous
organizations that drive a positive social impact within its
operating footprint.
Crescent Midstream is backed by The Carlyle Group, a leading
global alternative investment firm with $435
billion of assets under management as of June 30, 2024.
About Crescent Midstream
Crescent Midstream is an
independent energy company that provides safe, reliable crude oil
services in the Gulf of Mexico and
Louisiana. Led by CEO Jerry Ashcroft, Crescent is managed by a
seasoned team of midstream experts with significant expertise and a
proven track record of operating and optimizing midstream assets.
Our unique asset footprint strongly positions Crescent for organic
growth. The Crescent system serves more than 80 deep-water
platforms. Our offshore and onshore pipelines connect shippers to
liquid trading and receipt points across Louisiana. For more information, visit
https://www.crescentmidstream.com/
Media Contact
Suni
Hardy
shardy@crescentmid.com
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SOURCE Crescent Midstream