Natural gas exploration firm BKV Corp. and EnLink Midstream have reached the Phase I Final Investment Decision and signed a definitive agreement to develop a carbon capture and sequestration project in the Barnett Shale region of North Texas.
BKV will continue to produce natural gas, containing CO2, from its operations in the Barnett Shale region. EnLink Midstream will transport the natural gas produced via a modified pipeline to its natural gas processing plant in Bridgeport, Texas. Here the CO2 waste stream will capture, compress and sequester the gas via BKV’s nearby injection well.
BKV has a dedicated business unit dCarbon Ventures focused on CCS innovations and project development. Vice President of dCarbon Ventures, Lauren Read, said, “CCS is such an important component of driving climate solutions, and I’m really excited to have a project at the Phase I FID point. We plan to be injecting carbon dioxide by the end of 2023, at which point it is expected to be one of the first permanent commercial sequestration projects to come online in the United States.”
The initiative is expected to offset the BKV’s emissions by approximately 10% and bring it closer to its goal of achieving net-zero emissions by 2025.
EnLink Chairman and CEO Barry E. Davis said, “The project will capture and store a significant amount of carbon dioxide emissions per year, which moves EnLink a step closer to achieving our goal of a 30 percent reduction in CO2-equivalent emissions intensity by 2030 over EnLink’s 2020 scope 1 emissions intensity.”
“It is critical that companies in the industry work together to bring actionable change and move large-scale carbon reduction projects forward,” added BKV Chief Executive Officer Chris Kalnin. “This partnership brings us one step closer to the safe and profitable production of net-zero green natural gas.”
