Talos Energy Inc. (NYSE:TALO) (“Talos” or the “Company”) and EnLink Midstream, LLC (NYSE:ENLC) (“EnLink”) announced today that they have executed a memorandum of understanding to jointly develop a complete CO2 capture, transportation and sequestration solution for industrial-scale emitters in Louisiana. The joint service offering will be focused on the Mississippi River corridor from New Orleans to Baton Rouge, which is one of the largest concentrated sources of CO2 emissions in the United States, and will utilize significant portions of EnLink’s existing regional pipeline infrastructure of approximately 4,000 miles in Louisiana and Talos’s recently-acquired River Bend CCS site in east Louisiana, as announced today in a separate press release, which includes approximately 26,000 acres of pore space and provides sequestration capacity of over 500 million metric tonnes in the area. EnLink and Talos have begun to market the offering to potential customers.
Talos President and Chief Executive Officer Timothy S. Duncan commented: “We are very happy to join forces with EnLink from New Orleans to Baton Rouge in the Mississippi River corridor to leverage their infrastructure and operational reliability as a midstream solution, initially focused on the River Bend CCS project in east Louisiana. EnLink owns the last-mile pipe to most industrial emission sources in the region and will complement Talos’s expertise in conventional geology, subsurface characterization and track record of responsible operations. We are excited to collaborate to provide a one-stop solution that will lead to a simpler pricing model and, ultimately, accelerated decarbonization in a key industrial emissions region. This announcement further solidifies Talos’s first-mover status as we continue to develop our carbon capture and sequestration portfolio along the United States Gulf Coast and create sustainable value for stakeholders.”
“We are proud to offer with Talos a complete CO2 capture, transportation, and sequestration solution for customers in eastern Louisiana,” said EnLink’s Chairman and CEO Barry Davis. “We plan to utilize our existing pipeline infrastructure and expertise in building midstream infrastructure to provide cost efficient transportation, while reducing the environmental impact compared to new pipeline construction. We believe we are uniquely positioned in this regard, given the vast extent of our pipeline infrastructure in the region. Talos not only brings sequestration sites in close proximity to our pipelines, but also the downhole expertise to develop them. I continue to be inspired by the speed and execution from our carbon solutions teams, as we execute on our vision to become the future of midstream and creating sustainable value for EnLink and our unitholders.”
Talos Subsurface Expertise and Sequestration Sites
