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Msg  143690 of 463027  at  7/19/2014 5:50:55 AM  by

chaunclm


World's largest' carbon capture project to be built in Fort Bend, TX.

Jul 15, 2014, 8:01am CDT


Courtesy

The aim of the $1 billion project at the WA Parish power plant, pictured in this rendering, is to boost oil production from pollution.

Associate editor- Houston Business Journal
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NRG Energy Inc. (NYSE: NRG) and a Japanese company are partnering up to build the world's largest carbon capture project just southwest of Houston at one of NRG's aging power plants.

The Petra Nova Carbon Capture Project will convert 1.6 million tons of carbon emissions generated at the WA Parish power plant in Fort Bend County into flue gas, which NRG says "is expected to be among the cleanest fossil fuel emissions in the world," according to a press release.

When the project is completed in 2016, it will pipe the flue gas 82 miles to the West Ranch Oil Field, where it will be injected underground to facilitate oil production.

According to the release, using the flue gas in this way could boost production at the field from 500 barrels per day to more than 15,000.

“Our objective is simple: we want to continue to provide safe, affordable and reliable power to our customers, but without risking the health of the planet as a result of our activities,” NRG President and CEO David Crane said in the release.

“This project is an enormous step in that direction, plus it continues the trend of enhancing domestic oil production; thus further reducing our national dependence on foreign sources of oil.”

NRG and Tokyo-based JX Nippon Oil & Gas Exploration Corp. will each own half of the venture.

The companies will finance the project with up to $167 million from a Department of Energy Clean Coal Power Initiative Program grant. An additional $250 million in loans will come from the Japan Bank for International Cooperation and Nippon Export and Investment Insurance-backed Mizuho Bank Ltd.

 


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