Chevron, Enterprise Explore Carbon Storage Business Opportunities
Chevron U.S.A. Inc., through its Chevron New Energies division, and a subsidiary of Enterprise Products Partners LP announced a framework to study and evaluate opportunities for carbon dioxide capture, utilization and storage (CCUS) from their respective business operations in the U.S. Midcontinent and Gulf Coast. The companies expect the initial phase of the study in which they will evaluate specific business opportunities to last about six months.
“This joint effort has the potential to advance our ongoing work to grow our lower carbon businesses with commercial scale using the industry expertise both companies bring to the project,” said Chevron New Energies president Jeff Gustavson, in a Sept. 13 company statement. “International climate change scientists working with the United Nations have identified carbon capture as a critical technology needed to help the global energy system transition to a lower carbon future.”
The companies have successfully worked together on prior business opportunities and believe they bring complementary capabilities to successfully pursue CCUS. Projects resulting from the evaluation would seek to combine Enterprise’s extensive midstream pipeline and storage network with Chevron’s sub-surface expertise to create opportunities to capture, aggregate, transport and sequester carbon dioxide in support of the evolving energy landscape.
“The joint study with Chevron is part of our growing focus on developing and utilizing new technologies and leveraging our transportation and storage network in order to better manage our own carbon footprint and provide customers with new midstream services to support a lower carbon economy,” said A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “Our success in upgrading and repurposing existing assets will be important to the success of any initiative we move forward with.”
Chevron is one of the world’s leading integrated energy companies. The company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and the industry. To advance a lower-carbon future, Chevron is focused on cost efficiently lowering its carbon intensity, increasing renewables and offsets in support of its business, and investing in low-carbon technologies that enable commercial solutions.
Enterprise Products Partners is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The company’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet (Bcf) of natural gas storage capacity.Carbon Capture Utilization and Storage (CCUS), Chevron Corp., Enterprise Products Partners
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