Happy Thursday! Can you believe there’s one more day to the week!
Did anyone happen to read the
Oil & Gas Journal’s Daily Update on October 17, 2024, they had an article
titled, “Hilcorp, Sumitomo, K-Line to study Alaska CCS project”? The article is on the how Hilcorp Alaska, Sumitomo
Corp, and Kawasaki Kisen Kaisha Ltd. (K-Line) have decided to do a feasibility
study on carbon capture and sequestration (CCS) in Alaska and how to transport it
from Japan. This announcement follows the
State of Alaska getting signed into law House Bill 50 last week which
focuses on CCS on state land and in particular the duties and powers of the state’s
Alaska Oil and Gas Conservation Commission as well as how they will handle licensing, leasing and management of
the emerging industry. Alaska has
investigated CCS, and they have determined they have the capacity to store 50
gigatons in the geologic formations and they have the framework set up for this
industry due to LNG terminals, ports, and pipelines which already exist in the
state. The expectation is Japan will
capture carbon dioxide (CO2), liquify it, and then bring their liquefied CO2 by
vessels to be delivered to ports in Alaska to be then transported to geologic
formations for storage. This collective agreement
is an extension of these two countries deal to be part of the solution to
reduce greenhouse gases and climate change.
We hope the companies find the solution in their study! If you would like more information on this
article from Oil and Gas Journal, please click the links: Hilcorp,
Sumitomo, K-Line to study Alaska CCS project | Oil & Gas Journal (ogj.com).
Don’t forget to check out our ESC's website or contact us via the email in the
blog, if you have a hydrocarbon liquids project you would like to
see get off the ground or you would like to see what’s under your feet to help
with your emissions!
We hope you have a great rest of
your week!
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and Gas Journal’s article. **