Equinor acquires stake in Bayou Bend CCS Project
Equinor has acquired a 25 percent interest in Bayou Bend CCS LLC, positioned to be one of the largest US carbon capture and storage projects located along the Gulf Coast in Southeast Texas, according to the company's release.
Bayou Bend is positioned to be one of the largest CCS solutions in the US for industrial emitters, with nearly 140,000 gross acres of pore space for permanent CO2 sequestration and gross potential storage resources of more than one billion metric tons. The Bayou Bend total acreage includes nearly 100,000 gross acres onshore in Chambers and Jefferson Counties, Texas, and approximately 40,000 gross acres offshore Beaumont and Port Arthur, Texas.
Bayou Bend is a joint venture between Chevron U.S.A. Inc., through its Chevron New Energies division, Talos Energy Inc., through its Talos Low Carbon Solutions division, and Equinor. Equinor acquired its 25 percent share through the purchase of Texas Carbon 1 LLC, a subsidiary of Carbonvert. Chevron is the operator with 50 percent interest, and Talos holds 25 percent interest.
The project’s location near major industrial corridors in the Houston Ship Channel and Beaumont / Port Arthur area will provide a potential decarbonization option for industries such as refining, cement, steel, chemicals, and manufacturing. Industrial emissions in the Texas Gulf Coast region are estimated to be approximately 100 million metric tonnes of CO2 per year.
