Trace Carbon Solutions plans Louisiana CCS hub
Trace Carbon Solutions said September 28 it had entered into an agreement with Molpus Woodlands Group that gives Trace exclusive rights to develop and operate a carbon sequestration site on about 20,000 acres in Calcasieu and Beauregard parishes in Louisiana.
Under terms of the servitude agreement, Trace would operate the carbon capture and storage (CCS) hub, while Molpus would continue to manage the aboveground acreage as a sustainably-managed working forest.
The Evergreen Sequestration Hub, Trace said, would have the capacity to sequester up to 250mn tonnes of CO2 and would be located within 50 miles of more than 65mn tonnes/year of stationary CO2 emission sources in southwest Louisiana and southeast Texas.
“We recognise that large-scale, geologically superior sequestration sites are scarce in proximity to significant industrial carbon emissions,” Trace Carbon CEO Josh Weber said. “Thus, securing such a high-quality site for the Evergreen Hub, to permanently sequester CO2 emissions, is the first step towards building a full-cycle, integrated CCS business.”