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Denbury Inc. has signed an agreement that will expand its US Gulf Coast CO2 storage assets.
The company signed a definitive agreement with a landowner near Donaldsonville, La., to lease about 18,000 acres for future carbon dioxide (CO2) sequestration, the company said in a release July 21. The site lies in Assumption and St. James Parishes, less than 5 miles from the company's existing 320-mile Green Pipeline and near the state's industrial corridor.
The company anticipates the site’s geologic characteristics, including thick laterally extensive, low dip reservoirs, will enable total sequestration capacity of more than 80 million metric tons of CO2.
First potential CO2 injection for the site could be as early as 2025, Denbury said.
With the acquisition, Denbury expects to be able to sequester about 300 million metric tons of CO2 near Donaldsonville and expand its total sequestration site capacity to about 1.5 billion metric tons, which includes sites along the US Gulf Coast in Alabama, Louisiana, and Texas.