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