Denbury Inc, a US-based oil and gas company, has expanded its carbon dioxide (CO2) sequestration portfolio with the addition of two new sites in Louisiana. The company has formed a joint venture with Lapis Energy to design, implement and operate a CO2 sequestration project at Lapis Energy’s 14,000-acre site in St. Charles Parish, Louisiana.
The site has the potential to store at least 200 million metric tons of CO2 and is expected to be ready for first injection as early as 2027. Denbury has also secured a definitive agreement with Soterra LLC for the right to develop a dedicated CO2 sequestration site on approximately 8,500 acres in St. Helena Parish. The site, named “Virgo,” has the potential to store at least 100 million metric tons of CO2 and could be ready for first CO2 injection as early as 2026. With these two new sites, Denbury’s total CO2 sequestration portfolio has expanded to 10 sites, with a total potential storage volume of approximately 2 billion metric tons of CO2.
For more information visit www.denbury.com
