Crescent Midstream is to lead the development and construction of an integrated CCS project in Lake Charles, Louisiana, capable of capturing, transporting, and permanently storing CO2 emitted from an Entergy-owned natural gas-fired power plant. Through the collaboration of Entergy, Crescent, SAMSUNG E&A, and Honeywell’s carbon capture technologies, the approximately $1 billion project would be one of the largest CCS projects in the United States. It is expected to capture up to three million tonnes of CO2 per year.
Louisiana is the second largest CO2–emitting state in the USA. The major part of those emissions are concentrated in the lower Mississippi River industrial corridor, which produces more than 72 million tonnes of CO2 emissions per year, according to the Environmental Protection Agency. Roughly 66% of the state’s CO2 emissions come from industrial sources and 13% from electric power generation.
As part of the project, Crescent would apply its onshore and offshore pipeline construction and operations experience to facilitate the safe transportation of CO2 from emitters to permanent underground storage facilities.
To help reduce emissions, an aim that is part of its corporate policy, Crescent recently agreed to sponsor efforts by the Well Done Foundation to plug orphaned oil wells in Louisiana. The foundation’s proven methodology delivers immediate and quantifiable benefits by stopping oil wells from discharging methane emissions, a potent greenhouse gas. Additionally, Crescent has completed marsh preservation projects that mitigate coastal erosion in areas that have been impacted by inclement weather events to both protect and rebuild those areas and to restore CO2 absorbing plant life.
Crescent Midstream is backed by The Carlyle Group, a prominent alternative investment firm with $435 billion of assets under management as of 30 June 2024.
