Navigator CO2 Ventures has concluded the non-binding open season of its carbon capture pipeline system, which aims to provide biorefineries a long-term economic path to reduce their carbon footprint by capturing and transporting CO2 through 1,200 miles of pipeline across five Midwest states to a permanent sequestration site.
Headquartered in Dallas, Navigator CO2 Ventures provides comprehensive midstream services including product gathering, transport and sequestration. It is now actively looking to expand the capacity of the pipeline and proceed with multiple sequestration sites, creating an injection capacity of up to 12 million metric tonnes per year.
Navigator previously announced its partnership with BlackRock Global Energy & Power Infrastructure Fund to develop the CCS in Nebraska, Iowa, South Dakota, Minnesota and Illinois; with Valero Energy Corporation as the anchor customer.
At full capacity, the CCS will have the ability to capture and store enough CO2 to be the equivalent of removing approximately 2.6 million cars from the road per year or planting 550 million trees per year or eliminating carbon footprint of Kansas City 1.5 times over.
According to the International Energy Agency, carbon capture and storage projects can reduce global CO2 emissions by almost one fifth and lower the cost of addressing climate change by 70%.
Navigator will use the information received during the non-binding open season to continue working with interested shippers on binding commercial agreements. The framework of these agreements will form the basis to launch the binding open season, expected early June 2021.
This CCS project is one of the first large-scale, commercially viable, carbon pipelines to be developed in the US. Plans are underway to further expand the scope of the project as needed to accommodate future incremental customer demand. Navigator anticipates the CCS project to begin operations in-phases beginning in late 2024.
For more information visit: www.navigatorco2.com
