Talos also announced, in a separate press release, its entry into a memorandum of understanding with EnLink Midstream, LLC (“EnLink”) to provide integrated CO2 transportation solutions in the region. These announcements mark the first major CCS project in the Baton Rouge / New Orleans area, known as the “River Bend CCS” project, and the first with an integrated midstream solution dedicated to permanent sequestration activities. Talos will be the project manager and operator of the injection, storage and monitoring and will be joined by its partner, Storegga Limited.
- Approximately 26,000 acres leased in Iberville, St. James, Assumption and Lafourche Parishes, one of the largest industrial regions in the United States with approximately 80 million metrics tons of CO2 emitted regionally per year
- One Hub-class sequestration project comprised of three distinct sites with a cumulative storage capacity of over 500 million metric tons and identified collectively as River Bend CCS
- Located in a superior geologic fairway containing a 3,000+ foot thick saline aquifer column with porosity and permeabilities ideal for sequestration activities
- Talos has also secured a right of first refusal on approximately 63,000 additional acres in the area for phased, future expansion in order to meet expected future market demand
- Expands the Talos CCS project portfolio to three sequestration projects, including two regional hubs and one point source, spanning the Texas and Louisiana Gulf Coasts
Talos EVP – Low Carbon Strategy and Chief Sustainability Officer Robin Fielder commented: “We are excited to announce this significant agreement establishing a major CO2 sequestration hub along the Mississippi River along with the new transportation infrastructure collaboration with EnLink Midstream. This combination of a large-scale, strategically located sequestration hub plus alignment across the value chain is positioned to deliver turn-key carbon removal solutions in one of the largest and most critical industrial regions in the United States.”
Talos President and Chief Executive Officer Timothy S. Duncan commented: “I’m very proud of the progress our team has made in advancing Talos’s CCS business. Today we announced another milestone on our journey to build out one of the largest portfolios of projects along the U.S. Gulf Coast. This project is unique because the Mississippi River corridor is such an important focus area for lowering industrial emissions, and by combining the right storage location and geology, real pipeline infrastructure and two credible and capable operators, the River Bend CCS project can be a model for optimizing those variables to achieve a successful integrated CCS project. We will also be advancing our previously announced projects in the coming year through important engineering and permitting phases while continuing to pursue additional opportunities throughout the Gulf Coast. We remain excited about the trajectory of our CCS business, and in combination with a record 2021 from our Upstream business, have high expectations for the enterprise to continue to unlock unique, differentiated ways to grow long-term shareholder value in the coming year.”