Enbridge Inc. and Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental Petroleum Corp., intend to jointly develop a carbon dioxide (CO2) sequestration hub in the Corpus Christi area of the Texas Gulf Coast. Potential sequestration capacity will be determined during the development of the project concept
The project envisaged in a letter of intent signed by the two companies would include development of a pipeline transportation system and sequestration site. Enbridge would develop, build, and operate the pipeline and OLCV the sequestration site. The two companies would jointly market transportation and sequestration services to third-party CO2 point-source emitters in the Ingleside, Tex., and Corpus Christi areas.
OLCV’s partnership with Enbridge is at least its third carbon capture and sequestration agreement this year (CCS). The company last month reached terms with Natural Resource Partners (NRP) LP to evaluate possible development of a 500-million tonne CO2 sequestration hub in southeast Texas (OGJ Online, Oct. 28, 2022).
The NRP deal followed agreements with Enterprise Products Operating LLC and Weyerhaeuser Co. for sequestration projects on the Texas Gulf Coast and east of Baton Rouge, La., respectively (OGJ Online, Apr. 26, 2022).
