Lapis Energy and Denbury Form JV to Develop CO2 Sequestration Project in SE Louisiana
Depending on the scale and pace of emissions agreements dedicated to the site, Denbury intends to connect the sequestration site to its existing CO2 pipeline network in southeast
Lapis CEO Reg Manhas commented, “Lapis is pleased to welcome Denbury, a leading CCUS player, into this exciting project, and we look forward to working in partnership to fully develop the Libra Site. This high-quality CO2 storage opportunity was first identified by the Lapis subsurface team, and Denbury’s entrance has now confirmed its potential commercial attractiveness to emitters in the region. This venture represents the next step in Lapis’ business development plan and, along with our El Dorado CCS project with LSB Industries, provides a platform to accelerate our North American growth and build an industry-leading CCS portfolio, with a number of other opportunities currently under evaluation.”
Nik Wood, Denbury’s Senior Vice President, Carbon Capture, Utilization and Storage, commented, “We are excited to enter this joint venture with Lapis Energy and to expand our sequestration offering in the
“Carbon capture and sequestration are important to Louisiana’s efforts to reduce carbon dioxide emissions while maintaining jobs and growing our manufacturing base,” said Governor John Bel Edwards. “This effort is a clear demonstration of our ability to grow the
St. Charles Parish President Matthew Jewell stated: "
About Lapis Energy
Lapis is the Partner of Choice for energy-intensive industries seeking to achieve their carbon goals through the delivery of carbon capture and sequestration (CCS) projects. Located in
About Denbury
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions by 2030, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
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Emily Easley, 202.365.3752, emily@novusenergyadvisors.com
Source: Lapis Energy, LP